Lilly 4th-qtr profits and sales beat expectations

Shares of US pharma major Eli Lilly (NYSE: LLY) were up 2.1% at $214.6 in pre-market trading, as the company reported financial results for the fourth-quarter and full year 2020.

Net earnings rose 41% to $2.12 billion, or $2.32 per share, in the fourth quarter from $1.50 billion, or $1.64 per share, a year earlier. Excluding items, the company earned $2.75 per share, beating analysts’ estimates of $2.35 per share.

Group sales rose 21.7% to $7.44 billion, above the FactSet consensus of $7.27 billion, as the company booked $850 million in US revenue for bamlanivimab, its treatment for mile to moderate COVID-19 that has been granted Emergency Use Authorization.