NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Eli Lilly Q2 results: its Alzheimer’s drug could be ‘the biggest drug in history’

by August 4, 2022
written by August 4, 2022

Shares of Eli Lilly & Co (NYSE: LLY) are in the red this morning after the pharmaceutical giant reported weaker-than-expected results for its fiscal second quarter.

Key takeaways from Eli Lilly Q2 results

Net income printed at $952.5 million versus the year-ago $1.39 billionPer-share earnings of $1.05 were well below last year’s $1.53Adjusted EPS came in at $1.25, as per the earnings press releaseRevenue slid 4.0% on a year-over-year basis to $6.488 billionConsensus was $1.70 of adjusted EPS on $6.849 billion in revenueRevenue from COVID-19 antibodies saw an annualised decline of 13%

Trulicity sales remained strong

The bright spot in Eli Lilly Q2 results was “Trulicity” that brought in $1.911 billion, up from $1.535 billion in the same quarter last year. In the earnings press release, CFO Anat Ashkenazi said:

Excluding revenue from Alimta loss of exclusivity in major markets, the sale of rights to Cialis in China in the base period, and COVID-19 antibodies, Lilly experienced 6% revenue growth in our core business.

Future outlook and Cramer’s remarks

Eli Lilly reiterated its guidance for $28.8 billion to $29.3 billion in revenue this year. It, however, expects to earn a lower $6.96 to $7.11 in fiscal 2022. In comparison, analysts had called for $7.68 of EPS on$29.126 billion in revenue.

“Foreign exchange” was a headwind for the NYSE-listed firm this quarter. Discussing Eli Lilly Q2 results on CNBC’s “Squawk on the Street”, Jim Cramer said:

The two things that matter to me are; the weight loss drug is off to a fast start. And the FDA wants to accelerate their Alzheimer’s drug. If the Alzheimer’s drug work, it will be the biggest drug in history.

Wall Street currently has a consensus “overweight” rating on Eli Lilly stock that’s up more than 10% (YTD) despite the ongoing bear market, thanks to the defensive nature of the “healthcare” space.

The post Eli Lilly Q2 results: its Alzheimer’s drug could be ‘the biggest drug in history’ appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Coinbase stock opened 30% up on Thursday: explained here
next post
BlackRock to offer crypto to institutional clients via Coinbase

You may also like

Employment cost index undershoots expectations; Labour costs likely...

January 31, 2023

Key wage inflation measure eases in Q4: don’t...

January 31, 2023

Weekly markets TL;DR: Massive week ahead for stocks,...

January 31, 2023

Scottish Mortgage Trust share price headwinds put recovery...

January 31, 2023

IMF projects global growth at 2.9%; Disinflation to...

January 31, 2023

Chinese PMIs spark to life after covid restrictions...

January 31, 2023

Should you buy Apple shares ahead of its...

January 30, 2023

Mercedes-Benz just beat Elon Musk’s Tesla in its...

January 30, 2023

Amid recessionary fears, Texas manufacturing disappoints for the...

January 30, 2023

Goldman Sachs reveals one of the best-positioned retail...

January 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Employment cost index undershoots expectations; Labour costs likely peaked

    January 31, 2023
  • Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks

    January 31, 2023
  • China: House Divided

    January 31, 2023
  • Markets Aid Rhino Survival

    January 31, 2023
  • Weekly markets TL;DR: Massive week ahead for stocks, crypto and forex

    January 31, 2023

Categories

  • Economy (600)
  • Editor's Pick (232)
  • Investing (1,586)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick