Looking ahead to next year, Eli Lilly is banking on the launch of up to four new medicines to continue its growth trajectory.

The pharma giant released its 2023 financial guidance Tuesday, projecting revenue between $30.3 billion and $30.8 billion, driven by volume increases from key growth products, as well as full-year earnings per share in the range of $7.65 to $7.85 on a reported basis.

Lilly stated that it expects some of the growth to be offset by lower revenue for Alimta due to its loss of patent exclusivity, a lack of COVID-19 antibody revenue and the continued negative impact of foreign exchange rates.

As for expenses, Lilly expects marketing, selling and administrative expenses in the range of $6.9 billion to $7.1 billion, while research and development expenses are expected to be in the range of $8.2 billion to $8.4 billion. Additionally, the company anticipates a tax rate of approximately 16%.

“Lilly is exiting 2022 with momentum. Our approved and available medicines are early in their life cycles and showed accelerated growth during the year, led by a strong Mounjaro launch. In addition, several of our late-stage medicines for serious diseases were submitted for approval this year, and will hopefully launch in 2023,” Lilly CEO David A. Ricks said in a statement. “We continue to innovate and are beginning new pivotal studies for the next group of potential breakthrough treatments.”

Lilly CFO Anat Ashkenazi added that the company is prepared to invest in its four potential launches next year that will assist in its next wave of growth. The potential launches would be for donanemab, mirikizumab, lebrikizumab and pirtobrutinib. Lilly is also anticipating a potential regulatory submission for tirzepatide in obesity.

According to the company’s latest earnings report, Lilly is in decent shape heading into next year.

Lilly achieved top line revenue growth of 2% in Q3, a 14% increase of total worldwide volume, a 32% increase in EPS and net income jumped 31%. 

Mounjaro, its type 2 diabetes drug, continues to be a solid revenue generator, producing U.S. revenues of $97.3 million during the quarter.