v3.23.2
Revenue
 6 Months Ended
Jun. 30, 2023
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,
 2023202220232022
Net product revenue$6,979.8 $5,870.9 $13,218.0 $13,003.8 
Collaboration and other revenue(1)
1,332.3 617.1 2,054.1 1,294.2 
Revenue$8,312.1 $6,488.0 $15,272.1 $14,298.0 
(1) Collaboration and other revenue associated with prior period transfers of intellectual property was $30.3 million and $55.4 million during the three and six months ended June 30, 2023, respectively, and $34.4 million and $87.6 million during the three and six months ended June 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 and from the sale of rights for Baqsimi® 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 less than 1 percent of U.S. revenue during each of the three and six months ended June 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:
 June 30, 2023December 31, 2022
Contract liabilities$211.1 $219.2 
During the three and six months ended June 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.
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, 2023 and 2022:
Three Months Ended June 30,
 20232022
U.S.
Outside U.S.Total
U.S.
Outside U.S.Total
Diabetes:
Trulicity®
$1,371.3 $441.2 $1,812.5 $1,430.1 $481.7 $1,911.9 
Mounjaro®
915.7 64.0 979.7 12.6 3.4 16.0 
Jardiance(1)
386.1 282.2 668.3 250.7 210.3 461.0 
Baqsimi606.2 7.7 613.9 21.8 7.2 29.0 
Humalog® (2)
229.8 210.6 440.4 238.8 208.3 447.1 
Humulin®
144.3 61.0 205.3 202.3 71.7 274.0 
Basaglar® (3)
83.0 71.2 154.2 95.8 78.4 174.2 
Other diabetes45.0 91.6 136.6 40.1 85.0 125.0 
Total diabetes3,781.4 1,229.5 5,010.9 2,292.2 1,146.0 3,438.2 
Oncology:
Verzenio®
588.6 338.2 926.8 384.3 204.2 588.5 
Cyramza®
115.0 145.3 260.3 92.6 138.6 231.3 
Erbitux®
145.5 17.0 162.5 125.1 15.7 140.8 
Alimta®
17.9 43.1 60.9 171.7 56.1 227.7 
Other oncology68.0 192.4 260.5 45.3 135.2 180.4 
Total oncology935.0 736.0 1,671.0 819.0 549.8 1,368.7 
Immunology:
Taltz®
472.3 231.6 703.9 411.6 194.7 606.2 
Olumiant® (4)
50.8 168.1 218.9 10.4 175.8 186.2 
Other immunology— 5.7 5.7 — 4.0 4.0 
Total immunology523.1 405.4 928.5 422.0 374.5 796.5 
Neuroscience:
Emgality®
118.8 50.5 169.3 108.6 48.9 157.5 
Other neuroscience42.1 175.8 217.9 36.2 196.3 232.4 
Total neuroscience160.9 226.3 387.2 144.8 245.2 389.9 
Other:
Forteo®
97.4 50.6 148.0 78.5 60.0 138.5 
Cialis®
9.2 106.4 115.6 10.8 136.2 147.0 
COVID-19 antibodies(5)
— — — 129.1 — 129.1 
Other24.4 26.5 51.0 38.5 41.7 80.1 
Total other131.0 183.5 314.6 256.9 237.9 494.7 
Revenue$5,531.4 $2,780.7 $8,312.1 $3,934.8 $2,553.3 $6,488.0 
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) 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.
The following table summarizes revenue, including net product revenue and collaboration and other revenue, by product for the six months ended June 30, 2023 and 2022:
Six Months Ended June 30,
 20232022
U.S.Outside U.S.TotalU.S.Outside U.S.Total
Diabetes:
Trulicity$2,918.7 $871.0 $3,789.6 $2,744.1 $909.1 $3,653.2 
Mounjaro1,452.2 96.0 1,548.2 12.6 3.4 16.0 
Jardiance(1)
715.6 530.2 1,245.8 480.4 400.0 880.4 
Humalog(2)
501.4 400.0 901.4 607.7 457.6 1,065.3 
Baqsimi629.3 16.1 645.4 44.3 13.9 58.2 
Humulin343.1 114.2 457.3 392.8 154.5 547.2 
Basaglar(3)
218.4 145.2 363.5 215.1 150.6 365.7 
Other diabetes77.7 172.2 250.1 71.7 168.5 240.3 
Total diabetes6,856.4 2,344.9 9,201.3 4,568.7 2,257.6 6,826.3 
Oncology:
Verzenio1,049.6 628.0 1,677.7 685.7 372.1 1,057.9 
Cyramza215.6 281.4 497.0 171.8 289.7 461.5 
Erbitux264.2 28.1 292.4 234.7 28.7 263.4 
Alimta38.0 81.2 119.1 425.9 145.8 571.7 
Other oncology121.0 319.9 440.8 84.6 282.7 367.2 
Total oncology1,688.4 1,338.6 3,027.0 1,602.7 1,119.0 2,721.7 
Immunology:
Taltz784.5 446.3 1,230.8 718.8 375.5 1,094.3 
Olumiant(4)
93.1 354.6 447.8 81.7 360.1 441.8 
Other immunology— 27.7 27.7 — 8.5 8.5 
Total immunology877.6 828.6 1,706.3 800.5 744.1 1,544.6 
Neuroscience:
Emgality227.5 96.1 323.6 216.9 89.8 306.7 
Other neuroscience77.9 346.2 424.1 81.2 399.7 481.0 
Total neuroscience305.4 442.3 747.7 298.1 489.5 787.7 
Other:
Forteo168.0 102.3 270.3 148.7 127.2 275.9 
Cialis16.8 199.1 215.9 17.7 347.0 364.7 
COVID-19 antibodies(5)
— — — 1,584.3 14.7 1,598.9 
Other55.0 48.7 103.7 88.5 89.6 178.2 
Total other239.8 350.1 589.9 1,839.2 578.5 2,417.7 
Revenue$9,967.6 $5,304.6 $15,272.1 $9,109.4 $5,188.7 $14,298.0 
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 EUA or similar regulatory authorizations.
(5) 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.
The following table summarizes revenue by geographical area:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Revenue(1):
U.S.$5,531.4 $3,934.8 $9,967.6 $9,109.4 
Europe1,177.6 1,101.1 2,268.5 2,168.4 
Japan455.6 454.4 842.8 864.6 
China399.0 352.1 771.7 758.5 
Other foreign countries748.5 645.7 1,421.5 1,397.2 
Revenue$8,312.1 $6,488.0 $15,272.1 $14,298.0 
Numbers may not add due to rounding.
(1) Revenue is attributed to the countries based on the location of the customer or other party.