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礼来Eli Lilly(LLY)2025年第四季度及全年财务业绩电话会纪要「NYSE」(英文版)(60页).pdf

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1、Not for promotional useNot for promotional useQ4 2025 EARNINGS CALLELI LILLY AND COMPANY2025 Q4 EARNINGSIntroduction and Key EventsDave Ricks,Chair and Chief Executive OfficerQ4 2025 Financial Results&2026 Financial GuidanceLucas Montarce,Chief Financial OfficerR&D UpdateDan Skovronsky,M.D.,Ph.D.,Ch

2、ief Scientific and Product OfficerQuestion&Answer SessionAgenda32025 Q4 EARNINGSNot for promotional use4Safe Harbor Provision and Other InformationThis presentation contains forward-looking statements that are based on managements current expectations,but actual results may differ materially due to

3、various factors.The companys results may be affected by factors including,but not limited to,the risks and uncertainties in pharmaceutical research and development;competitive developments;regulatory actions;litigation and investigations;business development transactions;trade and economic condition

4、s;the negotiation and implementation of our voluntary agreement with the U.S.government related to drug pricing and access;and changes in laws and regulations,including healthcare reform.For additional information about the factors that affect the companys business,please see the companys latest For

5、m 10-K and subsequent Forms 10-Q and 8-K filed with the Securities and Exchange Commission.Certain financial information in this presentation is presented on a non-GAAP basis.Investors should refer to the reconciliations included in this presentation and should consider the companys non-GAAP measure

6、s in addition to,not as a substitute for or superior to,measures prepared in accordance with GAAP.These materials are not intended to promote the products referenced herein or otherwise influence healthcare prescribing decisions.The safety and efficacy of the agents under investigation have not been

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1. **业绩表现**:2025年Q4总收入193亿美元,同比增长43%;关键产品收入138亿美元,占比91%。 2. **核心产品**:Mounjaro(糖尿病)和Zepbound(肥胖)驱动增长,美国GLP-1类市场份额达60.5%;Verzenio、Jaypirca等销售额显著提升。 3. **研发投入**:全年研发投入38亿美元,推进orforglipron、retatrutide等新药研发,多项III期试验取得积极数据。 4. **2026年指引**:预计收入800-830亿美元(中值825亿,增长25%),Non-GAAP EPS 33.5-35美元。 5. **战略重点**:加速创新、扩大产能(美国及荷兰)、资本回报(股息78亿、股票回购109亿)。
莱恩2025亮点? 新药研发进展? 2026增长动力?
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