Notifications Bell

Eli Lilly lifts 2021 profit forecast

Eli Lilly lifts 2021 profit forecast

Helped by recent COVID-19 medication developments, Eli Lilly profit & sales forecasts are going upwards

Eli Lilly increased its profit and sales expectations for 2021, driven by the recent governmental contract it closed for its COVID-19 antibody treatment. Last month, the US government bought 640,000 additional doses of antibody therapy for $1.29 billion. The recent deal followed a previous one made in September for 388,000 extra doses.

The company expects the COVID-19 therapies to bring in roughly $2.1 billion in sales in 2021, up from a previous forecast of $1.3 billion. At the same time, the adjusted earnings per share are expected to range between $8.15 - $8.20. An earlier forecast was of $7.95 - $8.05 adjusted EPS. Moreover, the 2022 overall revenue is seen at a high of $28.3 billion, compared to the previous $27.6 billion.

Eli Lilly aims to complete the submission for approval for its Alzheimer’s treatment from the Food & Drug Administration in Q1 2022, later than anticipated.

After the news hit the wires, Eli Lilly shares traded 4.25% higher in pre-market trading, pointing to an opening bell price of $260 apiece. If so, the stock’s six-month gain could be around 17%.

Sources: reuters.com, thestreet.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.