US-based pharmaceutical group Eli Lilly yesterday announced its third quarter results, which impressed investors to the extent that they started giving the company new support. Thus, Eli Lilly’s shares rose more than 5% over few hours, taking the group’s capitalization to an all-time record of $110bn. Profits of the Indianapolis-based group were up over 100%, to $1.15bn–they were $0.55bn last year–a figure that far exceeds analysts’ expectations. Sales increased from $5.66bn (Q3 2017) to 6.06bn. The management took the opportunity to announce a current-year guidance improvement: sales will be $24.3bn to $24.5bn and EPS will be $5.55 to $5.60.
The diabetes division delivered surprising performances, with Trulicity selling over 55% more than Q3 2017 and sales of Basaglar and Jardiance increasing, respectively, by 30% and 40% YTD, despite the price war ongoing in the rich US insulin market. When announcing the results, the CFO stressed that the new products, such as Basaglar, Cyramza, Jardiance, Lartruvo, Olumiant, Portrazza, Taltz and Verzenio have delivered results beyond the same managers’ expectations.
(Source: Eli Lilly)