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ELI LILLY AND COMPANY

(LLY)
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Eli Lilly and : Lilly Raises 2020 Guidance, Sets 2021 Outlook

12/15/2020 | 07:21am EDT

By Dave Sebastian

Eli Lilly & Co. raised its guidance for 2020 and set its outlook for 2021, anticipating a benefit from Covid-19 treatment sales and the expansion of its drug portfolio.

The drugmaker Tuesday said it sees 2020 earnings of $6.28 to $6.48 a share, or $7.45 to $7.65 a share on an adjusted basis, on revenue of $24.2 billion to $24.7 billion. For the prior year, the company posted earnings of $8.89 a share on revenue of $22.32 billion.

The company said it expects to benefit from higher bamlanivimab sales due to an additional purchase agreement with the U.S. government.

For 2021, the company is guiding for earnings of $7.25 to $7.90 a share, or $7.75 to $8.40 a share on an adjusted basis, on revenue of $26.5 billion to $28 billion. Lilly said it expects $1 billion to $2 billion in revenue from Covid-19 therapies. It sees mid-single-digit net price declines globally in 2021, and low-to-mid single-digit declines in the U.S., Lilly said.

Separately Tuesday, Lilly said it agreed to buy Prevail Therapeutics Inc. for up to $1.04 billion.

Lilly shares rose 1.3% in premarket trading.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

12-15-20 0720ET

Stocks mentioned in the article
ChangeLast1st jan.
ELI LILLY AND COMPANY 0.21% 189.64 Delayed Quote.12.32%
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Financials (USD)
Sales 2021 27 915 M - -
Net income 2021 7 148 M - -
Net Debt 2021 11 631 M - -
P/E ratio 2021 24,2x
Yield 2021 1,76%
Capitalization 172 B 172 B -
EV / Sales 2021 6,59x
EV / Sales 2022 6,48x
Nbr of Employees 35 000
Free-Float 99,5%
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Technical analysis trends ELI LILLY AND COMPANY
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 215,78 $
Last Close Price 189,64 $
Spread / Highest target 34,5%
Spread / Average Target 13,8%
Spread / Lowest Target -10,4%
EPS Revisions
Managers and Directors
NameTitle
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
Aarti S. Shah Senior VP, Chief Information & Digital Officer
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
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