Eli Lilly financial guidance beats expectations
Shares of US drug major Eli Lilly (NYSE: LLY) ended Friday up nearly 4% at $51.56, after the company announced better-than-expected financial guidance, forecasting full-year 2012 adjusted earnings per share at $3.75 to $3.90, compared with analysts polled by FactSet expectations of earnings of $3.73 a share for the year.
Full-year 2013 revenue is anticipated to be between $22.6 billion and $23.4 billion, also up on FactSet forecasts of $22.4 billion. Lilly, which faces patent expiry on its $4 billion-a-year blockbuster antidepressant Cymbalta (duloxetine HCL) in December, said sales will be driven by its drugs for diabetes, osteoporosis, cancer, erectile dysfunction and animal health. The company added that it also expects significant revenue growth from Japan and emerging markets, such as China.
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