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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended September 30, 2023
COMMISSION FILE NUMBER 001-6351
ELI LILLY AND COMPANY
(Exact name of Registrant as specified in its charter)
Indiana 35-0470950
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
Lilly Corporate Center, Indianapolis, Indiana 46285
(Address and zip code of principal executive offices)
Registrant's telephone number, including area code (317276-2000
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of Each ClassTrading SymbolsName of Each Exchange On Which Registered
Common Stock (no par value)LLYNew York Stock Exchange
7 1/8% Notes due 2025LLY25New York Stock Exchange
1.625% Notes due 2026LLY26New York Stock Exchange
2.125% Notes due 2030LLY30New York Stock Exchange
0.625% Notes due 2031LLY31New York Stock Exchange
0.500% Notes due 2033LLY33New York Stock Exchange
6.77% Notes due 2036LLY36New York Stock Exchange
1.625% Notes due 2043LLY43New York Stock Exchange
1.700% Notes due 2049LLY49ANew York Stock Exchange
1.125% Notes due 2051LLY51New York Stock Exchange
1.375% Notes due 2061LLY61New York Stock Exchange
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.
Yes No
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).
Yes No
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes No
The number of shares of common stock outstanding as of October 30, 2023:
Class Number of Shares Outstanding
Common 949,307,237 



Eli Lilly and Company
Form 10-Q
For the Quarter Ended September 30, 2023
Table of Contents
Page
2


Forward-Looking Statements
This Quarterly Report on Form 10-Q and our other publicly available documents include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (Exchange Act), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. In particular, information appearing under "Management's Discussion and Analysis of Results of Operations and Financial Condition" includes forward-looking statements. Forward-looking statements include all statements that do not relate solely to historical or current facts, and generally can be identified by the use of words such as "may," "believe," "will," "expect," "project," "estimate," "intend," "anticipate," "plan," "continue," or similar expressions or future or conditional verbs.
Forward-looking statements inherently involve many risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, it is based on management's current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, we can give no assurance that any such expectation or belief will result or will be achieved or accomplished. Investors therefore should not place undue reliance on forward-looking statements. The following include some but not all of the factors that could cause actual results or events to differ materially from those anticipated:
the significant costs and uncertainties in the pharmaceutical research and development process, including with respect to the timing and process of obtaining regulatory approvals;
the impact and outcome of acquisitions and business development transactions and related costs;
the expiration of intellectual property protection for certain of our products and competition from generic and/or biosimilar products;
our ability to protect and enforce patents and other intellectual property;
changes in patent law or regulations related to data package exclusivity;
competitive developments affecting current products and our pipeline;
market uptake of recently launched products;
information technology system inadequacies, breaches, or operating failures;
unauthorized access, disclosure, misappropriation, or compromise of confidential information or other data stored in our information technology systems, networks, and facilities, or those of third parties with whom we share our data;
the impact of global macroeconomic conditions, trade disruptions, disputes, unrest, war, regional dependencies, or other costs, uncertainties and risks related to engaging in business globally;
unexpected safety or efficacy concerns associated with our products;
litigation, investigations, or other similar proceedings involving past, current, or future products or commercial activities as we are largely self-insured;
issues with product supply and regulatory approvals stemming from manufacturing difficulties, disruptions, or shortages, including as a result of unpredictability and variability in demand, labor shortages, third-party performance, quality, or regulatory actions related to our facilities;
dependence on certain products for a significant percentage of our total revenue and an increasingly consolidated supply chain;
reliance on third-party relationships and outsourcing arrangements;
the impact of public health outbreaks, epidemics, or pandemics, such as the COVID-19 pandemic;
regulatory changes or other developments;
regulatory actions regarding operations and products;
continued pricing pressures and the impact of actions of governmental and private payers affecting pricing of, reimbursement for, and access to pharmaceuticals;
devaluations in foreign currency exchange rates or changes in interest rates and inflation;
changes in tax law, tax rates, or events that differ from our assumptions related to tax positions;
asset impairments and restructuring charges;
changes in accounting and reporting standards promulgated by the Financial Accounting Standards Board and the Securities and Exchange Commission (SEC);
regulatory compliance problems or government investigations; and
actual or perceived deviation from environmental-, social-, or governance-related requirements or expectations.
3


More information on factors that could cause actual results or events to differ materially from those anticipated is included from time to time in our reports filed with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2022, particularly under the caption "Risk Factors." Investors should understand that it is not possible to predict or identify all such factors and should not consider the risks described above and under Part I, Item 1A, "Risk Factors" of our Annual Report on Form 10-K to be a complete statement of all potential risks and uncertainties.
All forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this Quarterly Report on Form 10-Q. Except as is required by law, we expressly disclaim any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this Quarterly Report on Form 10-Q.
4


PART I. Financial Information
Item 1. Financial Statements
Consolidated Condensed Statements of Operations
(Unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars and shares in millions, except per-share data)
 
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Revenue (Note 2)$9,498.6 $6,941.6 $24,770.7 $21,239.6 
Costs, expenses, and other:
Cost of sales1,860.1 1,579.1 5,294.2 5,081.7 
Research and development2,409.1 1,802.9 6,750.7 5,194.9 
Marketing, selling, and administrative1,803.9 1,614.2 5,478.5 4,797.2 
Acquired in-process research and development (Note 3)2,975.1 62.4 3,177.2 668.4 
Asset impairment, restructuring, and other special charges (Note 5) 206.5  206.5 
Other–net, (income) expense (Note 11)23.2 111.0 24.3 580.9 
9,071.4 5,376.1 20,724.9 16,529.6 
Income before income taxes427.2 1,565.5 4,045.8 4,710.0 
Income taxes (Note 7)484.6 113.8 995.1 402.9 
Net income (loss)$(57.4)$1,451.7 $3,050.7 $4,307.1 
Earnings (loss) per share:
Basic$(0.06)$1.61 $3.39 $4.78 
Diluted$(0.06)$1.61 $3.38 $4.76 
Shares used in calculation of earnings (loss) per share:
Basic899.8900.7900.2901.8
Diluted899.8903.8903.1904.5
See notes to consolidated condensed financial statements.
5


Consolidated Condensed Statements of Comprehensive Income (Loss)
(Unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions)
 
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Net income (loss)$(57.4)$1,451.7 $3,050.7 $4,307.1 
Other comprehensive income (loss), net of tax (Note 10)3.8 (8.1)59.7 47.3 
Comprehensive income (loss)$(53.6)$1,443.6 $3,110.4 $4,354.4 
See notes to consolidated condensed financial statements.


6


Consolidated Condensed Balance Sheets
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions)
September 30, 2023December 31, 2022
Assets(Unaudited) 
Current Assets
Cash and cash equivalents (Note 6)$2,380.8 $2,067.0 
Short-term investments (Note 6)113.1 144.8 
Accounts receivable, net of allowances of $13.4 (2023) and $16.0 (2022)
8,167.1 6,896.0 
Other receivables2,196.7 1,662.9 
Inventories4,901.4 4,309.7 
Prepaid expenses and other current assets5,247.9 2,954.1 
Total current assets23,007.0 18,034.5 
Investments (Note 6)2,691.7 2,901.8 
Goodwill4,085.2 4,073.0 
Other intangibles, net6,781.7 7,206.6 
Deferred tax assets4,574.8 2,792.9 
Property and equipment, net of accumulated depreciation of $10,767.8 (2023) and $10,233.4 (2022)
11,863.2 10,144.0 
Other noncurrent assets4,911.9 4,337.0 
Total assets$57,915.5 $49,489.8 
Liabilities and Equity
Current Liabilities
Short-term borrowings and current maturities of long-term debt$2,244.7 $1,501.1 
Accounts payable2,435.1 1,930.6 
Employee compensation1,233.2 1,059.8 
Sales rebates and discounts11,522.3 8,784.1 
Dividends payable 1,017.2 
Income taxes payable1,977.5 475.1 
Other current liabilities2,585.4 2,370.3 
Total current liabilities21,998.2 17,138.2 
Other Liabilities
Long-term debt17,923.6 14,737.5 
Accrued retirement benefits (Note 8)1,311.9 1,305.1 
Long-term income taxes payable3,468.3 3,709.6 
Other noncurrent liabilities1,906.1 1,824.0 
Total other liabilities24,609.9 21,576.2 
Commitments and Contingencies (Note 9)
Eli Lilly and Company Shareholders' Equity
Common stock593.6 594.1 
Additional paid-in capital7,160.0 6,921.4 
Retained earnings10,309.9 10,042.6 
Employee benefit trust(3,013.2)(3,013.2)
Accumulated other comprehensive loss (Note 10)(3,784.9)(3,844.6)
Cost of common stock in treasury(45.0)(50.5)
Total Eli Lilly and Company shareholders' equity11,220.4 10,649.8 
Noncontrolling interests87.0 125.6 
Total equity11,307.4 10,775.4 
Total liabilities and equity$57,915.5 $49,489.8 
See notes to consolidated condensed financial statements.
7


Consolidated Condensed Statements of Equity
(Unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
Equity of Eli Lilly and Company Shareholders

(Dollars in millions, except per-share data, and shares in thousands)
Common StockAdditional
Paid-in
Capital
Retained
Earnings
Employee Benefit TrustAccumulated Other Comprehensive Loss
Common Stock in Treasury(1)
Noncontrolling Interests
SharesAmountSharesAmount
Balance at July 1, 2022
950,619 $594.1 $6,746.0 $8,556.0 $(3,013.2)$(4,287.7)450 $(50.5)$114.5 
Net income (loss) 1,451.7 (15.7)
Other comprehensive loss, net of tax(8.1)
Issuance of stock under employee stock plans, net8 (2.1)
Stock-based compensation85.1 
Other (1.2)(3.0)
Balance at September 30, 2022
950,627 $594.1 $6,829.0 $10,006.5 $(3,013.2)$(4,295.8)450 $(50.5)$95.8 
Balance at July 1, 2023
949,688 $593.6 $6,948.6 $10,368.5 $(3,013.2)$(3,788.7)402 $(45.0)$85.5 
Net income (loss)(57.4)4.1 
Other comprehensive income, net of tax3.8 
Issuance of stock under employee stock plans, net17 (4.2)
Stock-based compensation215.6 
Other(1.2)(2.6)
Balance at September 30, 2023
949,705 $593.6 $7,160.0 $10,309.9 $(3,013.2)$(3,784.9)402 $(45.0)$87.0 
(1) As of September 30, 2023, there was $2.50 billion remaining under our $5.00 billion share repurchase program authorized in May 2021.
See notes to consolidated condensed financial statements.

8


Equity of Eli Lilly and Company Shareholders

(Dollars in millions, except per-share data, and shares in thousands)
Common StockAdditional
Paid-in
Capital
Retained
Earnings
Employee Benefit TrustAccumulated Other Comprehensive Loss
Common Stock in Treasury(1)
Noncontrolling Interests
SharesAmountSharesAmount
Balance at January 1, 2022
954,116 $596.3 $6,833.4 $8,958.5 $(3,013.2)$(4,343.1)463 $(52.7)$175.6 
Net income (loss)4,307.1 (63.7)
Other comprehensive income, net of tax47.3 
Cash dividends declared per share: $1.96
(1,765.9)
Retirement of treasury shares(5,607)(3.5)(1,496.5)(5,607)1,500.0 
Purchase of treasury shares 5,607 (1,500.0)
Issuance of stock under employee stock plans, net2,118 1.3 (282.6)(13)2.2 
Stock-based compensation278.2 
Other3.3 (16.1)
Balance at September 30, 2022
950,627 $594.1 $6,829.0 $10,006.5 $(3,013.2)$(4,295.8)450 $(50.5)$95.8 
Balance at January 1, 2023
950,632 $594.1 $6,921.4 $10,042.6 $(3,013.2)$(3,844.6)450 $(50.5)$125.6 
Net income3,050.7 4.6 
Other comprehensive income, net of tax59.7 
Cash dividends declared per share: $2.26
(2,034.0)
Retirement of treasury shares(2,299)(1.4)(748.6)(2,299)750.0 
Purchase of treasury shares2,299 (750.0)
Issuance of stock under employee stock plans, net1,372 0.9 (269.7)(48)8.8 
Stock-based compensation508.3 
Other(0.8)(3.3)(43.2)
Balance at September 30, 2023
949,705 $593.6 $7,160.0 $10,309.9 $(3,013.2)$(3,784.9)402 $(45.0)$87.0 
(1) As of September 30, 2023, there was $2.50 billion remaining under our $5.00 billion share repurchase program authorized in May 2021.
See notes to consolidated condensed financial statements.

9


Consolidated Condensed Statements of Cash Flows
(Unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions)
 
Nine Months Ended September 30,
 20232022
Cash Flows from Operating Activities
Net income$3,050.7 $4,307.1 
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:
Depreciation and amortization1,139.6 1,147.5 
Change in deferred income taxes(1,834.8)(2,195.6)
Stock-based compensation expense508.3 278.2 
Net investment losses144.5 676.4 
Gains on sale of product rights
(1,853.9)(94.5)
Acquired in-process research and development3,177.2 668.4 
Other changes in operating assets and liabilities, net of acquisitions and divestitures117.2 823.4 
Other operating activities, net103.2 312.1 
Net Cash Provided by Operating Activities4,552.0 5,923.0 
Cash Flows from Investing Activities
Purchases of property and equipment(2,377.0)(1,353.6)
Proceeds from sales and maturities of short-term investments155.2 83.1 
Purchases of short-term investments(79.2)(65.0)
Proceeds from sales of and distributions from noncurrent investments476.2 251.6 
Purchases of noncurrent investments(474.8)(474.1)
Proceeds from sale of product rights1,604.3 65.8 
Purchases of in-process research and development(3,364.0)(993.1)
Other investing activities, net(169.1)(334.1)
Net Cash Used for Investing Activities(4,228.4)(2,819.4)
Cash Flows from Financing Activities
Dividends paid(3,051.2)(2,651.4)
Net change in short-term borrowings97.0 1,741.3 
Proceeds from issuance of long-term debt3,958.5  
Repayments of long-term debt (1,560.0)
Purchases of common stock(750.0)(1,500.0)
Other financing activities, net(303.4)(295.2)
Net Cash Used for Financing Activities(49.1)(4,265.3)
Effect of exchange rate changes on cash and cash equivalents39.3 (39.4)
Net increase (decrease) in cash and cash equivalents313.8 (1,201.1)
Cash and cash equivalents at January 12,067.0 3,818.5 
Cash and Cash Equivalents at September 30
$2,380.8 $2,617.4 
See notes to consolidated condensed financial statements.


10


Notes to Consolidated Condensed Financial Statements
(Tables present dollars in millions, except per-share data)
Note 1: Basis of Presentation
We have prepared the accompanying unaudited consolidated condensed financial statements in accordance with the requirements of Form 10-Q and, therefore, they do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States (GAAP). In our opinion, the consolidated condensed financial statements reflect all adjustments (including those that are normal and recurring) that are necessary for a fair presentation of the results of operations for the periods shown. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates.
The information included in this Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022. We issued our financial statements by filing them with the Securities and Exchange Commission and have evaluated subsequent events up to the time of the filing of this Quarterly Report on Form 10-Q.
All per-share amounts, unless otherwise noted in the footnotes, are presented on a diluted basis; that is, based on the weighted-average number of common shares outstanding plus the effect of incremental shares from our stock-based compensation programs, if dilutive.
We operate as a single operating segment engaged in the discovery, development, manufacturing, marketing, and sales of pharmaceutical products worldwide. A global research and development organization and a supply chain organization are responsible for the discovery, development, manufacturing, and supply of our products. Regional commercial organizations market, distribute, and sell the products. The business is also supported by global corporate staff functions. Our determination that we operate as a single segment is consistent with the financial information regularly reviewed by the chief operating decision maker for purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting for future periods.
Research and Development Expenses and Acquired In-Process Research and Development (IPR&D)
Research and development costs are expensed as incurred. Research and development costs consist of expenses incurred in performing research and development activities, including but not limited to, compensation and benefits, facilities and overhead expense, clinical trial expense, and fees paid to contract research organizations.
Acquired IPR&D includes the initial costs and development milestones incurred related to externally developed IPR&D projects, acquired directly in a transaction other than a business combination, that do not have an alternative future use. Development milestones are milestone payment obligations that are incurred prior to regulatory approval of the compound and are expensed when the event triggering an obligation to pay the milestone occurs.
Reclassifications
Certain reclassifications have been made to prior periods in the consolidated condensed financial statements and accompanying notes to conform with the current presentation. Development milestone payments related to externally developed IPR&D projects, acquired directly in a transaction other than a business combination, were previously included in cash flows from operating activities in the consolidated condensed statements of cash flows and are now included in purchases of IPR&D in cash flows from investing activities. The reclassification resulted in an increase to net cash provided by operating activities and net cash used in investing activities of $418.3 million for the nine months ended September 30, 2022.

11


Note 2: Revenue
The following table summarizes our revenue recognized in our consolidated condensed statements of operations:
Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Net product revenue$7,306.2 $6,119.2 $20,524.2 $19,123.0 
Collaboration and other revenue(1)
2,192.4 822.4 4,246.5 2,116.6 
Revenue$9,498.6 $6,941.6 $24,770.7 $21,239.6 
(1) Collaboration and other revenue associated with prior period transfers of intellectual property was $31.3 million and $86.8 million during the three and nine months ended September 30, 2023, respectively, and $43.3 million and $130.9 million during the three and nine months ended September 30, 2022, respectively.
We recognize revenue primarily from two different types of contracts, product sales to customers (net product revenue) and collaborations and other arrangements. Revenue recognized from collaborations and other arrangements includes our share of profits from the collaborations, as well as royalties, upfront and milestone payments we receive under these types of contracts. See Note 4 for additional information related to our collaborations and other arrangements. Collaboration and other revenue disclosed above includes the revenue from the Jardiance® and Trajenta® families of products resulting from our collaboration with Boehringer Ingelheim, as well as from the sales of rights for the olanzapine portfolio, including Zyprexa®, and for Baqsimi®, all of which are discussed in Note 4. Substantially all of the remainder of collaboration and other revenue is related to contracts accounted for as contracts with customers.
Adjustments to Revenue
Adjustments to revenue recognized as a result of changes in estimates for our most significant United States (U.S.) sales returns, rebates, and discounts liability balances for products shipped in previous periods were 2 percent and 3 percent of U.S. revenue during the three months ended September 30, 2023 and 2022, respectively, and less than 1 percent of U.S. revenue during the nine months ended September 30, 2023 and 2022.
Contract Liabilities
Our contract liabilities result from arrangements where we have received payment in advance of performance under the contract and do not include sales returns, rebates, and discounts. Changes in contract liabilities are generally due to either receipt of additional advance payments or our performance under the contract.
The following table summarizes contract liability balances:
 September 30, 2023December 31, 2022
Contract liabilities$200.7 $219.2 
During the three and nine months ended September 30, 2023 and 2022, revenue recognized from contract liabilities as of the beginning of the respective year was not material. Revenue expected to be recognized in the future from contract liabilities as the related performance obligations are satisfied is not expected to be material in any one year.

12


Disaggregation of Revenue
The following table summarizes revenue, including net product revenue and collaboration and other revenue, by product for the three months ended September 30, 2023 and 2022:
Three Months Ended September 30,
 20232022
U.S.
Outside U.S.Total
U.S.
Outside U.S.Total
Diabetes:
Trulicity®
$1,259.0 $414.6 $1,673.6 $1,418.3 $432.0 $1,850.4 
Mounjaro®
1,277.0 132.4 1,409.3 97.3 90.0 187.3 
Jardiance(1)
415.9 284.8 700.8 350.9 222.4 573.3 
Humalog® (2)
194.2 201.2 395.4 248.1 198.8 447.0 
Humulin®
145.5 61.2 206.7 169.5 68.7 238.2 
Basaglar® (3)
111.4 68.2 179.6 124.8 68.1 193.0 
Baqsimi3.8 9.3 13.1 35.2 7.8 43.0 
Other diabetes53.2 88.6 141.9 44.5 86.2 130.4 
Total diabetes3,460.0 1,260.3 4,720.4 2,488.6 1,174.0 3,662.6 
Oncology:
Verzenio®
684.6 355.7 1,040.2 414.8 202.9 617.7 
Cyramza®
88.0 136.1 224.1 87.5 144.6 232.1 
Erbitux®
134.0 19.9 153.9 126.3 18.7 144.9 
Alimta®
21.2 32.3 53.5 64.6 54.8 119.4 
Other oncology73.8 201.5 275.4 39.5 139.6 179.2 
Total oncology1,001.6 745.5 1,747.1 732.7 560.6 1,293.3 
Immunology:
Taltz®
509.3 234.9 744.2 493.8 186.1 679.9 
Olumiant® (4)
65.7 165.7 231.4 22.9 160.0 182.9 
Other immunology 11.4 11.4  3.6 3.6 
Total immunology575.0 412.0 986.9 516.7 349.7 866.4 
Neuroscience:
Zyprexa(5)
49.9 1,431.5 1,481.4 8.0 73.4 81.4 
Emgality®
126.5 42.1 168.5 114.0 54.6 168.5 
Other neuroscience31.0 87.0 118.2 23.8 99.4 123.3 
Total neuroscience207.4 1,560.6 1,768.1 145.8 227.4 373.2 
Other:
Forteo®
101.2 45.2 146.4 112.7 64.4 177.1 
Cialis®
4.9 82.0 86.8 8.1 107.7 115.7 
COVID-19 antibodies(6)
   386.6  386.6 
Other18.0 24.8 42.9 30.9 35.7 66.6 
Total other124.1 152.0 276.1 538.3 207.8 746.0 
Revenue$5,368.1 $4,130.5 $9,498.6 $4,422.1 $2,519.4 $6,941.6 
Numbers may not add due to rounding.
(1) Jardiance revenue includes Glyxambi®, Synjardy®, and Trijardy® XR.
(2) Humalog revenue includes insulin lispro.
(3) Basaglar revenue includes Rezvoglar®.
(4) Olumiant revenue includes sales for baricitinib that were made pursuant to Emergency Use Authorization (EUA) or similar regulatory authorizations.
(5) Zyprexa revenue includes sale of rights for the olanzapine portfolio.
(6) COVID-19 antibodies include sales for bamlanivimab administered alone, for bamlanivimab and etesevimab administered together, and for bebtelovimab and were made pursuant to EUAs or similar regulatory authorizations.


13


The following table summarizes revenue, including net product revenue and collaboration and other revenue, by product for the nine months ended September 30, 2023 and 2022:
Nine Months Ended September 30,
 20232022
U.S.Outside U.S.TotalU.S.Outside U.S.Total
Diabetes:
Trulicity$4,177.7 $1,285.6 $5,463.2 $4,162.4 $1,341.1 $5,503.5 
Mounjaro2,729.1 228.4 2,957.5 109.9 93.3 203.2 
Jardiance(1)
1,131.5 815.1 1,946.6 831.4 622.4 1,453.7 
Humalog(2)
695.6 601.2 1,296.8 855.8 656.4 1,512.3 
Humulin488.6 175.4<