CLAIM #36607 · Eli Lilly and Company (LLY) · 2022Q3 earnings call · Nov 1, 2022 · due Dec 31, 2023
“As we expect to maintain a high level of access for our innovative portfolio, we believe our volume should accelerate to drive net growth in the future.”
Ilya Yuffa · President of Lilly International
In context
“rency. The growth of our newer medicine and revenue related to a sales collaboration agreement for the rights to sell and distribute Mounjaro in Japan was more than offset by the continued impact of declines in off-patent products, primarily Cymbalta and Alimta, which both face generic entry in June 2021. We expect a return to growth in Japan beginning in 2023 as we continue to scale our key growth products and the impact of patent expiration subsides. In China, revenue declined 10% in constant currency as we continue to be impacted by the Zero COVID policy measures. We're also seeing the impact of increased competitive pressures for Tyvyt from local competitors with NR DLXs. In addition, we experienced the first full quarter of the pricing impact of volume-based procurement for Humalog. As we expect to maintain a high level of access for our innovative portfolio, we believe our volume should accelerate to drive net growth in the future. Revenue in the rest of the world decreased 6% in constant currency in Q3, primarily driven by customer buying patterns. The year-to-date growth of 8% in constant currency in this region is more representative underlying trends. As shown on Slide 9, our key growth products continue to drive robust waterwide volume growth. These products drove approximately 18 percentage points of volume growth this quarter and continue to underpin our current performance and future outlook. Slide 10 further highlights the contribution of a key growth product. This quarter, these brands grew 19% or 25% in constant currency, generated $4.6 billion in sales and made up 70% of our core business revenue. Products like Verzenio, Taltz in dermatology and Jardiance have outpaced competitors growth and are leade”
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SEC filings for LLY ↗ · Claim quote is verbatim from the 2022Q3 earnings call.