礼来：替尔泊肽增长空间广大，肿瘤板块新秀蓄势待发-20250321

Investment Rating - The report assigns a "Buy" rating for the company with a target price of $972.42, indicating a potential upside of 16.2$837.01 [4][6]. Core Insights - The company achieved significant revenue growth in Q4 2024, with total revenue reaching $13.5 billion, a year-over-year increase of 45$4.41 billion, reflecting a 101.4% increase [1]. - The metabolic segment, driven by the growth of tirzepatide, saw a revenue increase of 58.5% year-over-year, totaling $9.11 billion in Q4 2024. The company is actively developing additional indications for tirzepatide, which is expected to enhance its market presence [2]. - The oncology segment also showed strong performance, with revenues of$2.55 billion in Q4 2024, primarily due to the continued uptake of the CDK4/6 inhibitor abemaciclib, which grew by 35.8% year-over-year [3]. Financial Performance Summary - For the fiscal year ending December 31, 2024, the company reported total revenue of $45.043 billion, a 32.0$10.59 billion, representing a 102.1% growth [5][7]. - The earnings per share (EPS) for 2024 was $11.76, a significant increase of 102.8$58 billion and $61 billion in 2025, with EPS projected to be between$22.05 and $23.55 [4][5].