Diabetes and psoriasis drugs help Lilly beat forecasts

30 July 2019

Eli Lilly (NYSE: LLY) today posted second-quarter 2019 financial, showing that revenue increased less than 1% to $5.64 billion from $5.59 billion driven by 6% volume growth, and beating Wall Street estimates of $5.6 billion, helped by diabetes drugs Trulicity (dulaglutide) and Basaglar (insulin glargine injection).

Lilly’s shares rose 1.2% to $110.01 in pre-market trading this morning.

The US pharma major recorded net income of $1.33 billion, or $1.44 per share, in the quarter, compared with a loss of $259.9 million, or 25 cents per share, when it recorded acquisition-related charges of $1.62 billion. Excluding special items, Lilly earned $1.5 per share. Analysts on average had expected a profit of $1.45 per share, according to IBES data from Refinitiv.

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