Eli Lilly Sees Modest Revenue Growth in 2018
December 13 2017 - 7:46AM
Dow Jones News
By Cara Lombardo
Eli Lilly and Co. (LLY) said Wednesday it expects a
low-single-digit revenue increase next year as it works to cut
costs and develop new drugs.
The pharmaceutical company is in the "early stages" of a growth
period, driven by revenue from recently launched products and
efforts to increase its operating margin said Chief Executive David
Ricks.
The company guides for revenue of $23 billion to $23.5 billion
next year. It expects revenue of $22.4 billion to $22.7 billion in
the current year.
Eli Lilly expects 2018 earnings per share of $4.24 to $4.34, or
$4.60 to $4.70 on an adjusted basis.
It lowered its 2017 earnings-per-share guidance by 17 cents, to
a range of $1.56 to $1.66, but reiterated its adjusted guidance of
$4.15 to $4.25. The revision is due to changes in estimates related
to impairment, restructuring and other special charges, the company
said.
Eli Lilly said its expects to make regulatory progress in 2018
on its rheumatoid arthritis treatment, baricitinib; its migraine
treatment, galcanezumab; and a new indication for Verzenio in
breast cancer. It also expects to launch a new indication for Taltz
in psoriatic arthritis.
Lilly shares, up 18% this year, didn't move premarket
Wednesday.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
December 13, 2017 07:31 ET (12:31 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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