Eli Lilly follow-up: LLY reaffirms 2015 guidance, issues 2016 guidance below expectations
- Co reaffirms guidance for FY15 (Dec), sees EPS of $3.40-3.45 vs. $3.44 Capital IQ Consensus Estimate.
- Co issues downside guidance for FY16 (Dec), sees EPS of $3.45-3.55 vs. $3.64 Capital IQ Consensus Estimate; sees FY16 (Dec) revs of $20.2-20.7 bln vs. $21.33 bln Capital IQ Consensus Estimate. Non-GAAP figures for 2016 exclude amortization of intangibles as well as integration costs associated with the Novartis Animal Health acquisition.
- Excluding the unfavorable impact of foreign exchange rates, the company expects revenue growth from a number of established products including Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and animal health products, as well as higher revenues from new products including Cyramza, Trulicity, Jardianc, Portrazza, and Basaglar.
- "In 2016 we expect multiple regulatory actions across therapeutic areas including diabetes, oncology and immunology," said Derica Rice, Lilly's executive vice president for global services and chief financial officer.