- Second-quarter 2017 revenue increased 8 percent, driven primarily by volume growth from Trulicity, Taltz and other new pharmaceutical products, while operating expenses remained flat.
- Second-quarter 2017 earnings per share (EPS) were $0.95 (reported), or $1.11 (non-GAAP).
- Pipeline events included Japan marketing approval for Olumiant, an update regarding U.S. regulatory status for baricitinib, Priority Review designation for abemaciclib in the U.S. and positive Phase 3 data for galcanezumab. Recent collaborations with Nektar Therapeutics and KeyBioscience will enhance the early phase pipeline.
- The company is providing its updated oncology research and development strategy.
- The company has lowered 2017 reported EPS to be in the range of $2.51 to $2.61. The company has raised 2017 non-GAAP EPS to be in the range of $4.10 to $4.20.
Eli Lilly and Company (NYSE: LLY) today announced financial results for the second quarter of 2017.
|
$ in millions, except per share data |
Second Quarter |
% |
||||||
|
2017 |
2016 |
Change |
||||||
|
Revenue |
$ |
5,824.3 |
$ |
5,404.8 |
8% |
|||
|
Net Income - Reported |
1,008.0 |
747.7 |
35% |
|||||
|
EPS - Reported
|
0.95 |
0.71 |
34% |
|||||
|
Net Income - Non-GAAP |
1,177.4 |
908.8 |
30% |
|||||
|
EPS - Non-GAAP |
1.11 |
0.86 |
29% |
|||||
Certain financial information for 2017 and 2016 is presented on both a reported and a non-GAAP basis. Some numbers in this press release may not add due to rounding. Reported results were prepared in accordance with generally accepted accounting principles (GAAP) and include all revenue and expenses recognized during the periods. Non-GAAP measures exclude the items described in the reconciliation tables later in the release. The company's 2017 financial guidance is also being provided on both a reported and a non-GAAP basis. The non-GAAP measures are presented to provide additional insights into the underlying trends in the company's business.
"Lilly delivered strong revenue growth in the second quarter, building on the momentum of Trulicity, Taltz and the other new products in our portfolio," said David A. Ricks, Lilly's chairman, president and CEO. "To deliver on our mission and maximize our opportunity, we have four key priorities -- launching with excellence, replenishing the pipeline, driving productivity, and building talent and capability in our core areas of focus."
Today the company is providing an update to its oncology research and development strategy. In addition to building upon new oncology products such as Cyramza® (ramucirumab), Lar...
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