Eli Lilly (LLY) Moves Higher Following Q4 Numbers; Zyprexa Expiration Hurts Margins
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Price: $54.14 -1.1%
Revenue Growth %: 0.0%
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Research and development: 5.28B
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Revenue Growth %: 0.0%
Financial Fact:
Research and development: 5.28B
Today's EPS Names:
ANF, DXLG, FL, More
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Eli Lilly & Co. (NYSE: LLY) is moving higher Tuesday following stronger-than-expected fourth-quarter results and affirmed outlook.
Revenue fell 2.3 percent from $6.19 billion last year to $6.05 billion in the recent quarter, beating views calling for revs of $5.9 billion.
Reported net income slid 26.6 percent to $858.2 million, or 77 cents per share, from net income of $1.17 billion in the same period last year. Adjusted for certain one-time items, net income came in at a robust 87 cents per share, which outpaced expectations for 81 cents per share.
"Although we anticipated the sales erosion in the fourth quarter resulting from the loss of U.S. patent exclusivity for Zyprexa in late October, I am encouraged by the strong performance of many other areas of our business," commented CEO John C. Lechleiter Ph.D. "Products such as Cymbalta, Humalog, Humulin, Forteo, Alimta, Cialis and our animal health portfolio all demonstrated solid growth in the quarter, as did key regions including Japan and the emerging markets."
Gross margin fell 4.6 percent, due to lower sales of Zyprexa, and to a lesser extent Gemzar, following patent expirations. Sales for Zyprexa fell 44 percent, while most other medicines saw increases in revenue. Cymbalta overtook the lead with $1.18 billion in sales, a 20 percent increase over the same period last year.
Lilly reaffirmed its outlook calling for non-GAAP earnings of $3.10 to $3.20 per share and revs of $21.8 billion to $22.8 billion.
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Revenue fell 2.3 percent from $6.19 billion last year to $6.05 billion in the recent quarter, beating views calling for revs of $5.9 billion.
Reported net income slid 26.6 percent to $858.2 million, or 77 cents per share, from net income of $1.17 billion in the same period last year. Adjusted for certain one-time items, net income came in at a robust 87 cents per share, which outpaced expectations for 81 cents per share.
"Although we anticipated the sales erosion in the fourth quarter resulting from the loss of U.S. patent exclusivity for Zyprexa in late October, I am encouraged by the strong performance of many other areas of our business," commented CEO John C. Lechleiter Ph.D. "Products such as Cymbalta, Humalog, Humulin, Forteo, Alimta, Cialis and our animal health portfolio all demonstrated solid growth in the quarter, as did key regions including Japan and the emerging markets."
Gross margin fell 4.6 percent, due to lower sales of Zyprexa, and to a lesser extent Gemzar, following patent expirations. Sales for Zyprexa fell 44 percent, while most other medicines saw increases in revenue. Cymbalta overtook the lead with $1.18 billion in sales, a 20 percent increase over the same period last year.
Lilly reaffirmed its outlook calling for non-GAAP earnings of $3.10 to $3.20 per share and revs of $21.8 billion to $22.8 billion.
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