v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table summarizes our revenue recognized in our consolidated condensed statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Net product revenue$14,726.0 $10,354.9 $26,327.2 $18,151.4 
Collaboration and other revenue
831.7 947.9 1,959.0 1,919.4 
Revenue$15,557.7 $11,302.8 $28,286.2 $20,070.8 
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 resulting from our collaboration with Boehringer Ingelheim discussed in Note 4, as well as the sale of product rights. 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 1 percent and less than 1 percent of U.S. revenue during the three and six months ended June 30, 2025, respectively, and 4 percent and 3 percent of U.S. revenue during the three and six months ended 2024, respectively.
Disaggregation of Revenue
The following table summarizes revenue, including net product revenue and collaboration and other revenue, by product for the three months ended June 30, 2025 and 2024:
Three Months Ended June 30,
 20252024
U.S.
Outside U.S.Total
U.S.
Outside U.S.Total
Cardiometabolic Health:
Mounjaro$3,301.8 $1,897.1 $5,198.9 $2,413.7 $677.2 $3,090.8 
Zepbound3,379.9 1.5 3,381.4 1,243.2 — 1,243.2 
Trulicity743.8 348.4 1,092.2 876.7 368.9 1,245.6 
Jardiance(1)
382.2 307.8 690.0 428.9 340.7 769.6 
Other cardiometabolic health555.7 424.7 980.4 753.6 411.7 1,165.4 
Total cardiometabolic health8,363.4 2,979.5 11,342.9 5,716.1 1,798.5 7,514.6 
Oncology:
Verzenio929.0 560.3 1,489.3 861.4 470.5 1,331.9 
Other oncology490.3 434.0 924.3 413.8 413.0 826.8 
Total oncology1,419.3 994.3 2,413.6 1,275.2 883.5 2,158.7 
Immunology:
Taltz548.8 298.8 847.6 539.4 285.3 824.7 
Other immunology152.1 255.8 408.0 60.4 197.3 257.7 
Total immunology700.9 554.6 1,255.6 599.8 482.6 1,082.4 
Neuroscience247.9 96.1 344.0 191.9 147.6 339.5 
Other82.7 118.9 201.5 52.2 155.4 207.6 
Revenue$10,814.2 $4,743.4 $15,557.7 $7,835.2 $3,467.5 $11,302.8 
(1) Jardiance revenue includes Glyxambi, Synjardy, and Trijardy XR.
The following table summarizes revenue, including net product revenue and collaboration and other revenue, by product for the six months ended June 30, 2025 and 2024:
Six Months Ended June 30,
 20252024
U.S.Outside U.S.TotalU.S.Outside U.S.Total
Cardiometabolic Health:
Mounjaro$5,957.7 $3,083.0 $9,040.7 $3,934.0 $963.4 $4,897.4 
Zepbound5,685.4 7.9 5,693.3 1,760.6 — 1,760.6 
Trulicity1,514.4 673.1 2,187.4 1,958.6 743.3 2,701.9 
Jardiance(1)
692.0 1,012.4 1,704.3 797.1 659.0 1,456.1 
Other cardiometabolic health1,090.6 834.5 1,925.3 1,355.8 835.9 2,191.6 
Total cardiometabolic health14,940.1 5,610.9 20,551.0 9,806.1 3,201.6 13,007.6 
Oncology:
Verzenio1,586.6 1,061.5 2,648.2 1,499.6 882.6 2,382.2 
Other oncology878.5 834.5 1,712.9 773.9 812.5 1,586.5 
Total oncology2,465.1 1,896.0 4,361.1 2,273.5 1,695.1 3,968.7 
Immunology:
Taltz1,025.3 584.2 1,609.5 886.4 542.3 1,428.8 
Other immunology253.7 480.4 734.1 110.5 377.1 487.5 
Total immunology1,279.0 1,064.6 2,343.6 996.9 919.4 1,916.3 
Neuroscience437.2 178.9 616.1 355.1 373.5 728.6 
Other182.2 232.2 414.4 98.0 351.6 449.6 
Revenue$19,303.7 $8,982.5 $28,286.2 $13,529.6 $6,541.2 $20,070.8 
(1) Jardiance revenue includes Glyxambi, Synjardy, and Trijardy XR.

The following table summarizes revenue by geographical area:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue(1):
U.S.$10,814.2 $7,835.2 $19,303.7 $13,529.6 
Europe2,574.4 1,403.7 4,963.1 2,844.4 
Japan521.0 462.7 923.2 826.6 
China465.9 395.1 916.7 771.3 
Rest of world1,182.1 1,206.1 2,179.5 2,098.9 
Revenue$15,557.7 $11,302.8 $28,286.2 $20,070.8 
(1) Revenue is attributed to the countries based on the location of the customer or other party.