Eli Lilly CFO Lucas Montarce Talks Weight Loss Pill, Business Outlook
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What is the expected launch timeline for Eli Lilly's weight loss pill?
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We release our guide for 2026. 25% is the midpoint of the growth that we expect to see in 2026. It's industry-leading growth, and that's a continuation of the momentum that we see as well in 2025. By the way, thinking about the Q4 that we also release the revenue that we deliver in the fourth quarter, we deliver 43% growth. So it's a continuation of that strong momentum getting into 2026. What is driving that is the similar drivers, the key growth products that we have. Of course, the incretin is getting all the attention, but we have a breadth of a portfolio across all our therapeutic areas that will continue to drive that growth into 2026. Thinking about the drivers that you mentioned, we talk about the incrementing portfolio both in the U.S.
and OUS. You see that the market in the fourth quarter on the anti-obesity space grew 85%, and we actually outpaced that growth in the fourth quarter, and very strong growth as well in type 2 diabetes, 17%. So we continue to drive that growth into 2026. You mentioned as well the introduction of Orfolgripon. Very excited. We submitted for regulatory approval in the fourth quarter, and we expect to have regulatory action as early as Q2.
What growth trends is Eli Lilly experiencing in 2026?
So expect to see as well our oral bill coming into the market, a very exciting opportunity to expand the market. In addition to that, we are expanding through access as well with the agreement that we have signed with the administration in Medicare that we expect not later than July will be provide access to Medicare patients, more than 40 million patients that could benefit to have access to anti-obesity medications as well. So very exciting time, very exciting opportunity ahead of us.
So, Lucas, there's a lot to dig into there. And you mentioned, of course, the breadth of your portfolio. But investors really, really care about the pill at this moment. So I have to ask a little bit more about that. You mentioned that potential 2Q launch. Is there a possibility that this outlook that you gave this morning gets upgraded as we start to see some of the uptake there?
Yeah, it's early days at this time. We just put the guide out there. We have a very thorough process and we feel good about the guide that we have in place for 2026. It's still very compelling, by the way. 25%, there is no single pharma company growing at this pace.
How is Eli Lilly expanding access to anti-obesity medications?
So we feel a bit about good. We can see throughout the year if we see that continue to trend in the positive direction. But at this time, given all the variables that we have, we feel good about the guide that we have in place.
And so let's talk about the timeline a little bit more here. You and I spoke a few weeks ago at the JP Morgan Healthcare Conference. You said that you're on track for that second quarter approval. You reiterated that timeline today, of course, pending FDA approval. Let's talk a little bit about the FDA. There's been some challenges there. There's been some turnover. Do you see that potentially impacting the timeline at all?
At this time, we are engaging with the FDA, and we feel good about the progress. And so the time that I covered in JP Morgan that you alluded is still consistent with our expectation that we expect to see regulatory action as early as Q2.
All right. Well, we're almost in the second quarter, so we'll keep looking for updates there. I want to talk about pricing as well, because you take a look at this headline. You see global pricing declines in the low to mid teens. This caught my eye because, of course, Novo Nordisk came out with that early release yesterday. And then they said on their earnings call this morning that they're facing unprecedented pricing pressure this year. So talk us through that, what that means for Eli Lilly and how you plan to make that up.
What challenges does Eli Lilly face with FDA approval?
Yeah, well, actually the guide, 25%, is encompassing as well the price step up or step down that we have in 2026. So that's included in our guide for 2026 already. When you think about the valuables, they are all actually out there.
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Chapters
8 chapters
1
What is the expected launch timeline for Eli Lilly's weight loss pill?
0:02–1:24
2
What growth trends is Eli Lilly experiencing in 2026?
1:24–2:32
3
How is Eli Lilly expanding access to anti-obesity medications?
2:32–3:54
4
What challenges does Eli Lilly face with FDA approval?
3:54–5:23
5
How is pricing pressure affecting Eli Lilly's market strategy?
5:23–6:45
6
What impact does Medicare access have on Eli Lilly's business?
6:45–8:27
7
How does Eli Lilly plan to address pricing and volume dynamics?
8:27–9:05
8
What is the significance of the QuickPen approval for Eli Lilly?
9:05–9:08
Speakers
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