Eli Lilly reaffirms FY17 guidance and sees FY18 EPS/revs in line
- Co reaffirms guidance for FY17 (Dec), sees EPS of $4.15-4.25 vs. $4.21 Capital IQ Consensus Estimate; sees FY17 (Dec) revs of $22.4-22.7 bln vs. $22.63 bln Capital IQ Consensus Estimate; reaffirms non-GAAP gross margin of ~76%
- Co issues in-line guidance for FY18 (Dec), sees EPS of $4.60-4.70 vs. $4.65 Capital IQ Consensus Estimate; sees FY18 (Dec) revs of $23.0-23.5 bln vs. $23.07 bln Capital IQ Consensus Estimate.
- 2018, the company is expecting continued pipeline progress, including U.S. regulatory action for baricitinib for the treatment of rheumatoid arthritis, galcanezumab for the treatment of migraine and a new indication for Verzenio in breast cancer, as well as the launch of a new indication for Taltz in psoriatic arthritis.
- "We are confident in our future growth prospects and have reaffirmed our expectation of least 5 percent average annual revenue growth from 2015 to 2020, on a constant currency basis. In addition, we expect operating margin as a percent of revenue to be at least 30 percent in 2020, excluding the effect of foreign exchange on international inventories sold."