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Eli Lilly lifts 2021 profit forecast

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Miguel A. Rodriguez
Miguel A. Rodriguez
16 December 2021
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/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.