By Matt Grossman
Eli Lilly & Co. on Tuesday posted greater sales in the second quarter, including a contribution from the company's Covid-19 antibodies and U.S. and foreign sales gains for a set of the company's other drugs.
The Indianapolis-based pharmaceutical company logged earnings of $1.53 a share, a slight decline from $1.55 a share 12 months earlier. Net income was $1.39 billion, compared with $1.41 billion in 2020's second quarter.
Stripping out one-time items, Lilly's adjusted earnings were $1.87 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.89 a share.
Revenue rose 23% to $6.74 billion. Analysts were anticipating revenue of $6.6 billion.
Lilly's Covid-19 antibodies contributed $148.9 million of revenue in the quarter. A set of nine drugs with growing demand--Trulicity, Taltz, Verzenio, Jardiance, Emgality, Olumiant, Tyvyt, Retevmo and Cyramza--were responsible for 54% of Lilly's remaining revenue, the company said.
In the U.S., volume grew by 18% and realized prices declined by 1%, for revenue of $3.7 billion. Abroad, revenue was $3.04 billion, with volumes rising 26% and pricing declining by 4%. Exchange-rate factors helped increase foreign sales by 6%.
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(END) Dow Jones Newswires