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ELI LILLY AND COMPANY

(LLY)
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Eli Lilly 2Q Sales Grow, With Lift From Covid-19 Antibody Sales

08/03/2021 | 04:58am EDT

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%.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

08-03-21 0658ET

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Financials (USD)
Sales 2021 27 278 M - -
Net income 2021 6 347 M - -
Net Debt 2021 11 480 M - -
P/E ratio 2021 32,6x
Yield 2021 1,45%
Capitalization 205 B 205 B -
EV / Sales 2021 7,95x
EV / Sales 2022 7,70x
Nbr of Employees 35 000
Free-Float 99,8%
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Number of Analysts 19
Last Close Price 226,40 $
Average target price 265,00 $
Spread / Average Target 17,0%
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Managers and Directors
David A. Ricks Chairman, President & Chief Executive Officer
Anat Ashkenazi Chief Financial Officer & Senior Vice President
Timothy J. Garnett Chief Medical Officer & VP-Global Medical
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
Diogo Rau Senior VP, Chief Information & Digital Officer
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