Lilly Korea sales, 194%↑ from a year earlier…'Mounjaro' effect

Eli Lilly Korea’s sales last year reached KRW 482.1 billion…operating profit increased 259%

The company portfolio has been transformed, centered around new GLP-1 obesity drugs

Eli Lilly Korea's sales structure in South Korea is undergoing a rapid, substantial changes. Following the launch of the GLP-1 class blockbuster 'Mounjaro,' the company’s financial performance has surged, completely restructuring its growth model, which previously centered on its core products.

According to the Financial Supervisory Service, Eli Lilly Korea’s sales last year reached KRW 482.1 billion, a 193.6% increase compared to the previous year. During the same period, operating profit rose by 259.2%, jumping from KRW 10.3 billion in 2024 to KRW 37.1 billion last year. 

Eli Lilly Korea's sales performance by year (unit: KRW 100 million)

Previously, the company's sales relied on oncology drugs such as ‘Verzenio (abemaciclib)’ and ‘Cyramza (ramucirumab),’ as well as the SGLT-2 inhibitor ‘Jardiance (empagliflozin)’ and the biologic ‘Taltz (ixekizumab).’ 

Due to a lack of new blockbuster entries, sales had stalled below KRW 200 billion from 2021 to 2024.

However, this structure changed abruptly with the emergence of ‘Mounjaro (tirzepatide).’ Mounjaro secured outstanding growth momentum by rapidly expanding beyond diabetes into the obesity treatment market.

Mounjaro acts on both the glucose-dependent insulinotropic polypeptide (GIP) receptor and the glucagon-like peptide-1 (GLP-1) receptor. Through this dual action, it stimulates insulin secretion, improves insulin resistance, and decreases glucagon secretion, thereby lowering both fasting and postprandial blood glucose levels.

In patients with diabetes and obesity, the "incretin effect" is typically diminished, primarily due to reduced GLP-1 secretion and impaired GIP action. As GLP-1 and GIP are key hormones responsible for approximately two-thirds of the postprandial insulin response, the dual-axis mechanism of Mounjaro stands out as a significant clinical advantage.

Mounjaro's first indication was secured in June 2023 as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes. In August 2024, the indication was expanded for chronic weight management. By expanding its scope to include patients with obesity or overweight patients with weight-related comorbidities, Mounjaro successfully became positioned as an obesity treatment.

Released in the domestic market last August, Mounjaro quickly secured position in the market. 

According to market research firm IQVIA, Mounjaro recorded KRW 28.4 billion in sales in Q3 of last year, which then surged to KRW 187.1 billion in Q4, easily surpassing KRW 100 billion in quarterly sales for a single item. During the same period, it outpaced its competitor 'Wegovy (semaglutide),' rapidly increasing its market dominance.

A similar trend is observed in the global market. As of Q2 of last year, Mounjaro's global sales exceeded those of Wegovy, marking a significant turning point in the battle for leadership in the obesity treatment market.

Active Development of Multi-Mechanism GLP-1 Successors

Lilly is also continuously strengthening its GLP-1-based portfolio. 

Currently, the oral GLP-1 agonist 'orforglipron' is undergoing regulatory approval processes in more than 40 countries, with a New Drug Application (NDA) for type 2 diabetes expected in the U.S. by the end of this year.

Unlike Mounjaro, orforglipron is a single GLP-1 mechanism but distinguishes itself as an oral medication. 

Notably, it does not require fasting after administration and, as a small-molecule-based drug, has lower production costs, suggesting high market scalability. In clinical trials, it has shown superior results compared to competitors in both HbA1c reduction and weight loss.

Lilly's diabetes and obesity treatment 'Mounjaro'

Next-generation pipelines are also under development. For instance, 'retatrutide,' a triple agonist that simultaneously targets GLP-1, GIP, and glucagon (GCG). 

Currently, no triple-action obesity drug has been approved, and retatrutide, which is in Phase 3 clinical trials, is considered the closest to commercialization.

According to recently released Phase 3 study results, retatrutide met primary endpoints by demonstrating significant improvements in HbA1c and weight loss compared with placebo. 

Lilly is considering strategies to expand retatrutide's indications beyond obesity to various chronic diseases, including diabetes and liver disease.

Additionally, 'eloralintide,' which targets both GLP-1 and amylin receptors, has entered global Phase 3 trials. This drug mimics the action of the amylin hormone secreted by the pancreas to act directly on the brain, thereby increasing satiety and suppressing food intake.