Coronavirus curbs second quarter sales at Lilly

30 July 2020

While revenues declined 2% to $5.4 billion, USA-based drugmaker Eli Lilly (NYSE: LLY) beat profit forecasts for the second quarter of 2020, the firm announced on Thursday.

Second-quarter earnings per share (EPS) increased to $1.55, following Generally Accepted Accounting Principles (GAAP), and the company raised its 2020 EPS guidance to be in the range of $6.48 to $6.68.

Lilly’s share price fell back nearly 2% in pre-market trading however, as the company revealed the negative impact of the COVID-19 pandemic on revenues, including around $250 million of decreased customer buying.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK