Key Takeaways From Lilly's (LLY) Q2 Call: Baricitinib, Cancer Pipeline
Zacks Investment Research | Jul 25, 2017 09:29PM ET
Yesterday, big pharma player, Eli Lilly and Company (NYSE:LLY) reported better-than-expected second quarter results and raised its outlook for the year. However, shares were down 3% with investors focusing on the company’s update regarding its investigational rheumatoid arthritis (RA) treatment, baricitinib.
Here is a look at a few key takeaways from Lilly’s conference call.
How Did Key Drugs Perform?
Lilly’s second quarter 2017 revenues increased 8% from the year-ago quarter to $5.8 billion, topping the Zacks Consensus Estimate of $5.6 billion. New products like Trulicity, Taltz, Basaglar, Jardiance, Lartruvo and Cyramza performed well and drove volume growth. Late life cycle products like Cialis and Forteo drove price growth.
Alimta continued to face significant competitive headwinds while Zyprexa, Cymbalta, Evista, Strattera and Axiron were impacted by loss of exclusivity. Cialis was also affected by lower volume in the U.S. reflecting a decline in the overall erectile disorder (ED) market as well as the presence of generics.
Animal health revenue declined during the quarter reflecting market access pressure and competitive pressure in cattle and swine (Read more: Earnings ESP of 1.54% for the second quarter.
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