How Much New Eli Lilly Product Launches Boosted the Bottom Line

Health and Healthcare

Published: July 23, 2015 11:05 am

Eli Lilly and Co. (NYSE: LLY) reported its second-quarter earnings Thursday before the markets opened. The company had $0.90 in earnings per share (EPS) on $4.98 billion in revenue. That was against Thomson Reuters consensus estimates of $0.74 in EPS on $4.91 billion in revenue. In the same period of the previous year EPS were $0.68 and revenue $4.94 billion.

Guidance for the 2015 full year EPS was revised to $3.20 to $3.30, reflecting solid underlying performance in the first six months of the year. Revenue guidance was revised to $19.7 billion to $20.0 billion, up from $19.5 billion to $20.0 billion. The consensus estimates are $3.18 in EPS on $19.80 billion in revenue for the 2015 full year.

For the most recent quarter, gross margin as a percentage of revenue was 79.2%, an increase of 250 basis points from the second quarter of 2014. The increase in gross margin percentage was due to the impact of foreign exchange rates on international inventories sold.

In terms of its product sales, Eli Lilly reported (on a year-over-year basis):

Humalog, $654.3 million, down 7%
Alimta, $664.3 million, down 7%
Cialis, $567.9 million
Humlin, $316.4 million, down 10%
Forteo, $328.4 million, up 6%
Cymbalta, $274.1 million, down 32%
Zyprexa, $253.7 million, up 4%
Strattera, $191.8 million, down 3%
Effient, $128.8 million, down 4%
Trajenta, $80.0 million, down 11%
Cyramza, $87.7 million
Evista, $59.7 million, down 45%
Animal Health, $840.8 million, up 40%

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John C. Lechleiter, Ph.D., chairman, president and CEO of Eli Lilly, said:

Lilly remains on track to return to growth in 2015, driven by strong underlying business performance, including uptake of our recently launched products — Jardiance, Trulicity and Cyramza. With tangible results from launches of new medicines and continued progress in our pipeline, along with careful control of operational expenses, we are confident that our innovation-based strategy will continue to provide the basis for solid growth in the years ahead.

Shares of Eli Lilly were flat at $86.41 Thursday morning. The stock has a consensus analyst price target of $89.71 and a 52-week trading range of $60.14 to $90.18.

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