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Eli Lilly announced positive topline results from the QWINT-2 and QWINT-4 phase 3 clinical trials for their once-weekly insulin efsitora alfa. The trials demonstrated that efsitora alfa provides non-inferior A1C reduction compared to daily insulin therapies, with similar safety and efficacy profiles. In QWINT-2, insulin-naïve adults using efsitora saw a 1.34% reduction in A1C over 52 weeks, comparable to insulin degludec's 1.26%. QWINT-4 showed a 1.07% A1C reduction in adults already on basal insulin, equivalent to insulin glargine. Both trials showed efsitora was well-tolerated, with hypoglycemia rates comparable to daily insulins. Detailed QWINT-2 results will be presented at the EASD Annual Meeting 2024, with further trial results expected later this year.
Eli Lilly and Company (NYSE: LLY) announced the retirement of Alonzo Weems, executive vice president of enterprise risk management and chief ethics and compliance officer, effective Dec. 31, 2024. Weems has served the company for 27 years, contributing significantly to its global product development and ethical standards. CEO David A. Ricks highlighted Weems' role in enhancing digital and data analytics capabilities and fortifying the company's ethics program. Lilly has been recognized by Ethisphere as one of the World's Most Ethical Companies for the eighth consecutive year, a testament to Weems' efforts. An internal and external search for his successor is underway.
Eli Lilly and Company (NYSE: LLY) declared a dividend of $1.30 per share for the second quarter of 2024. The dividend will be paid on June 10, 2024, to shareholders of record as of May 16, 2024. Lilly is a leading medicine company with a history of life-changing discoveries, helping over 51 million people worldwide. The company focuses on developing innovative solutions for diabetes, obesity, Alzheimer's disease, immune system disorders, and difficult-to-treat cancers.
Lilly reported a 26% increase in revenue in Q1 2024, driven by strong sales of Mounjaro, Zepbound, Verzenio, and Jardiance. The company saw positive pipeline progress with significant results from Phase 3 trials and various submissions. Q1 2024 EPS increased by 66%, and the full-year revenue guidance was raised by $2 billion. Key financials and product revenue highlights were discussed in the press release.
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