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ARTICLE | Financial News

Lilly raises guidance, launches Basaglar

December 15, 2016 10:33 PM UTC

Eli Lilly and Co. (NYSE:LLY) announced 2017 guidance in which it expects adjusted EPS of $4.05-$4.15 on revenue of $21.8-$22.3 billion. It expects mid-single-digit revenue growth driven by recent product launches, including diabetes drugs Trulicity dulaglutide and Jardiance empagliflozin, autoimmune drug Taltz ixekizumab and cancer drug Cyramza ramucirumab.

In a revision to its 2016 guidance, Lilly now expects full-year 2016 GAAP EPS to be $2.57-$2.67, down from $2.66-$2.76. The change is largely due to restructuring charges associated with last month's failure of Alzheimer's disease candidate solanezumab (LY2062430) in a Phase III study, as well as a charge related to Lilly's deal with AstraZeneca plc (LSE:AZN; NYSE:AZN) announced last week to develop MEDI1814. The mAb against beta amyloid 42 is in Phase I testing to treat AD (see BioCentury Extra, Nov. 23 and BioCentury Extra, Dec. 9)...

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