{"id":521821,"date":"2021-08-03T06:28:13","date_gmt":"2021-08-03T10:28:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lilly-delivers-strong-second-quarter-2021-financial-results-updates-2021-financial-guidance\/"},"modified":"2021-08-03T06:28:13","modified_gmt":"2021-08-03T10:28:13","slug":"lilly-delivers-strong-second-quarter-2021-financial-results-updates-2021-financial-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lilly-delivers-strong-second-quarter-2021-financial-results-updates-2021-financial-guidance\/","title":{"rendered":"Lilly Delivers Strong Second-Quarter 2021 Financial Results, Updates 2021 Financial Guidance"},"content":{"rendered":"
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– Revenue in the second quarter of 2021 increased 23 percent, driven by volume growth of 22 percent. Revenue growth was 12 percent when excluding effects of 2020 COVID-related stocking patterns, revenue from COVID-19 antibodies and recent business development.<\/h2>\n

– Year-to-date revenue grew 11 percent – excluding revenue from COVID-19 antibodies – with strong sequential growth from first quarter to second quarter 2021, suggesting continued recovery from the COVID-19 pandemic in line with company expectations.<\/h2>\n

– Revenue from all key products grew in the quarter and 2021 year-to-date. These key growth products, consisting of Trulicity, Taltz, Verzenio, Jardiance, Emgality, Olumiant, Tyvyt, Retevmo, and Cyramza, contributed 17 percentage points of revenue growth and represented approximately 54 percent of total revenue in the second quarter of 2021, excluding revenue from COVID-19 antibodies.<\/h2>\n

– Notable pipeline events included positive data readouts for tirzepatide for type 2 diabetes and Jardiance for adults, with or without diabetes, who live with heart failure with preserved ejection fraction (HFpEF). The company announced plans to submit donanemab for Alzheimer’s disease and tirzepatide for type 2 diabetes to regulatory authorities by the end of 2021.<\/h2>\n

– Second-quarter 2021 operating expenses increased 18 percent, driven primarily by higher research and development investments for late-stage assets, as well as higher relative marketing and selling expenses due to pandemic-related spending reductions in 2020.<\/h2>\n

– Second-quarter 2021 earnings per share (EPS) decreased to $1.53 on a reported basis and increased to $1.87 on a non-GAAP basis.<\/h2>\n

– 2021 EPS guidance updated to be in the range of $6.73 to $6.93 on a reported basis and remains in the range of $7.80 to $8.00 on a non-GAAP basis.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n INDIANAPOLIS<\/span>, Aug. 3, 2021<\/span> \/PRNewswire\/ — Eli Lilly and Company (NYSE: LLY) today announced financial results for the second quarter of 2021.<\/p>\n

“We delivered strong performance this quarter, with volume-driven growth across our core business and most major geographies. We accelerated use of our newest medicines around the world with solid sequential growth versus first-quarter 2021,” said David A. Ricks<\/span>, Lilly’s chairman and CEO. “We had another robust period of pipeline milestones, as we announced plans to submit tirzepatide in type 2 diabetes and donanemab in Alzheimer’s disease to regulatory authorities later this year, as well as positive results for Jardiance in patients with heart failure with preserved ejection fraction. We continue to increase investment in our future and look forward to several additional pipeline events in the second half of the year, along with the continued strengthening of our business.” <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n $ in millions, except <\/span>\n <\/p>\n

\n per share data<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Second Quarter<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n %<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 2021<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Change<\/u>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 6,740.1<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,499.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income \u2013 Reported<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,390.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,412.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2)%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n EPS \u2013 Reported<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.53<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1.55<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1)%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net Income \u2013 Non-GAAP<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,703.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,323.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 29%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n EPS \u2013 Non-GAAP<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.87<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1.45<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 29%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

Certain financial information for 2021 and 2020 is presented on both a reported and a non-GAAP basis. Some numbers in this press release may not add due to rounding. Reported results were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include all revenue and expenses recognized during the periods. Non-GAAP measures reflect adjustments for the items described in the reconciliation tables later in the release. Beginning in 2021, non-GAAP measures exclude gains and losses on investments in equity securities and 2020 amounts have been reclassified for comparability. The company’s 2021 financial guidance is being provided on both a reported and a non-GAAP basis. The non-GAAP measures are presented to provide additional insights into the underlying trends in the company’s business.<\/p>\n

\n Key Events Over the Last Three Months
<\/u>Regulatory<\/p>\n