Eli Lilly and Company (LLY) CEO Dave Ricks presents at 43rd Annual J.P. Morgan Healthcare Conference (Transcript)

Eli Lilly and Firm (NYSE:LLY) forty third Annual J.P. Morgan Healthcare Convention January 14, 2025 5:15 PM ET

Firm Members

Dave Ricks – Chairman and CEO

Convention Name Members

Chris Schott – JPMorgan

Chris Schott

Good afternoon, everyone. I am Chris Schott at JPMorgan and it is my pleasure to be internet hosting this hearth chat at present with Dave Ricks, Chairman and CEO of Eli Lilly. It has been an amazing few years for the Firm. Clearly, acquired some huge bulletins at present as nicely. So we will have Dave make some opening feedback. I’ll soar proper into the dialog from there. So, Dave, thanks for becoming a member of us at present.

Dave Ricks

Thanks, Chris, and thanks for having us again at JPMorgan and for everybody right here. I assumed it is smart to simply make some opening feedback about this morning’s announcement. So three issues, I assume. First, it is at all times disappointing to overlook your personal expectations. We personal that. That is our job to provide good steerage to the Road and we intention to land inside that steerage usually. That mentioned, I feel, we’re coping with a form of a enterprise right here that’s fairly unprecedented in our sector by way of measurement, and scale, and development fee and we have made — we have realized a number of issues.

So earlier than I am going into the element of that although, simply unpack ’24 somewhat bit. It was a exceptional yr for the Firm. We ended the yr, $4 billion over our first time information. Progress fee on the yr was 32% on a fairly good base. Exit development fee in This autumn was 45%. So we’re a quickly rising giant scale firm. We clearly, rolled out Zepbound and that is — we’re simply now clocking a lap on that. In order that’s within the new development fee and that helped us dramatically throughout the yr. However I need to level out that, many different