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

Eli Lilly and Company (NYSE:LLY) 43rd Annual J.P. Morgan Healthcare Conference January 14, 2025 5:15 PM ET

Company Participants

Dave Ricks – Chairman and CEO

Conference Call Participants

Chris Schott – JPMorgan

Chris Schott

Good afternoon, everybody. I’m Chris Schott at JPMorgan and it’s my pleasure to be hosting this fireside chat today with Dave Ricks, Chairman and CEO of Eli Lilly. It’s been a tremendous few years for the Company. Obviously, got some big announcements today as well. So we’re going to have Dave make some opening comments. I’m going to jump right into the conversation from there. So, Dave, thanks for joining us today.

Dave Ricks

Thanks, Chris, and thanks for having us back at JPMorgan and for everyone interested here. I thought it makes sense to just make some opening comments about this morning’s announcement. So three things, I guess. First, it’s always disappointing to miss your own expectations. We own that. That’s our job to give good guidance to the Street and we aim to land within that guidance normally. That said, I think, we’re dealing with a kind of a business here that is pretty unprecedented in our sector in terms of size, and scale, and growth rate and we’ve made — we’ve learned a few things.

So before I go into the detail of that though, just unpack ’24 a little bit. It was a remarkable year for the Company. We ended the year, $4 billion over our first time guide. Growth rate on the year was 32% on a pretty good base. Exit growth rate in Q4 was 45%. So we are a rapidly growing large scale company. We obviously, rolled out Zepbound and this is — we’re just now clocking a lap on that. So that’s in the new growth rate and that helped us dramatically during the year. But I want to point out that, many other