Eli Lilly: raises guidance after strong third quarter

(CercleFinance.com) - US drugmaker Eli Lilly raised its full-year earnings guidance on Tuesday after delivering "strong" third-quarter financial results.


In the last quarter, revenue rose by 7% to 6.1 billion dollars, while operating income grew to 1.4 billion dollars, compared to just 541 million dollars in the third quarter of 2017, the company said.

Eli said that higher sales of its newest medicines, coupled with cautious cost management have led to this performance.

On a non-GAAP basis, 2018 EPS is now expected to be 5.55 dollars to 5.60 dollars, the Indianapolis-based group said.

In comparison, its previous EPS guidance range for 2018 was between 5.40 dollars and 5.50 dollars.

The company also said it now anticipates 2018 revenue between 24.3 billion and 24.5 billion dollars, increasing the low end of its revenue range from its previous guidance, thanks to the strong performance of its pharmaceuticals portfolio - particularly for diabetes.

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