Lilly’s Q4 net income up 61%
January 31, 2017Driven by new products, including Trulicity, Cyramza, Jardiance and Taltz, Lilly’s volume-driven significant growth in 2016.
Eli Lilly has posted net earnings for the fourth quarter 2016 of $771.8million, 61% up compared to $478.4million in the same period last year. Full year net income 2016 grew 14% from 2015, reaching $2,737.6million ($2,408.4M in 2015).
“Pipeline progress also continued with approvals of new products and new indications for existing products in our core therapeutic areas of diabetes, oncology and immunology,” said David A. Ricks, Lilly’s president and CEO.
The company expects to continue with the momentum in 2017, the CEO said. “We remain focused on launching new products, improving productivity and advancing our pipeline as we work to bring life-changing medicines to patients.”
Expectations for 2017, planned acquisition of CoLucid Pharmaceuticals.
The company expects 2017 revenue to be between $21.8 billion and $22.3 billion. Lilly sees revenue growth from animal health products and a several established pharmaceutical products including Trajenta, Forteo and Humalog, as well as higher revenue from new products including Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo. Earnings per share for 2017 are expected to be $2.69 – $2.79, mainly because of the planned acquisition of CoLucid Pharmaceuticals.
