Diabetes drugs push Lilly's sales up, beating estimates

31 January 2017

Eli Lilly (NYSE: LLY) presented financials this morning, showing that fourth-quarter 2016 revenue rose 7.2% to $5.76 billion, beating analysts' average estimate of $5.55 billion, helped by the strong performance of its diabetes drug franchise.

The US pharma major’s reported net income rocketed 61% to $771.8 million, or $0.73 per share. However, Lilly's non-generally accepted accounting principles (GAAP) earnings per share at $0.95 (up 22%) were below the $0.99 per share average analysts' expectations of nine analysts surveyed by Zacks Investment Research. on average.

Lilly’s shares were up 2.5% at $76.58 by late morning trading.

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