Summary
Eli Lilly and Company reported a significant increase in revenue for the first quarter of 2020, reaching $5,859.8 million, up 15% from $5,092.2 million in the prior year period. This growth was primarily driven by increased sales volumes across key products, including Trulicity, Taltz, and Jardiance, partially offset by lower realized prices. The company also noted a favorable impact of approximately $250 million on revenue due to increased customer buying patterns and prescription trends related to the COVID-19 pandemic, particularly in the diabetes and immunology segments. Net income from continuing operations saw a substantial rise to $1,456.5 million ($1.60 per diluted share) from $561.1 million ($0.57 per diluted share) in Q1 2019. However, reported net income for Q1 2020 was $1,456.5 million, a decrease from $4,241.6 million in Q1 2019, primarily due to a significant gain on the disposition of Elanco Animal Health recognized in the prior year. The company continued its strategic investments, completing the acquisition of Dermira, Inc. in February 2020, which added new assets like lebrikizumab to its pipeline. Management highlighted ongoing R&D efforts and provided financial expectations for the full year 2020, anticipating EPS in the range of $6.20 to $6.40.
Financial Highlights
51 data points| Revenue | $5.86B |
| Cost of Revenue | $1.22B |
| Gross Profit | $4.64B |
| R&D Expenses | $1.39B |
| SG&A Expenses | $1.55B |
| Interest Expense | $92.50M |
| Net Income | $1.46B |
| EPS (Basic) | $1.60 |
| EPS (Diluted) | $1.60 |
| Shares Outstanding (Basic) | 908.20M |
| Shares Outstanding (Diluted) | 911.70M |
Key Highlights
- 1Revenue increased by 15% to $5,859.8 million in Q1 2020, driven by strong volume growth in key products.
- 2Net income from continuing operations more than doubled to $1,456.5 million ($1.60 per diluted share) in Q1 2020, up from $561.1 million ($0.57 per diluted share) in Q1 2019.
- 3The COVID-19 pandemic favorably impacted Q1 2020 revenue by an estimated $250 million due to increased customer buying patterns.
- 4Acquisition of Dermira, Inc. completed in February 2020, adding lebrikizumab and Qbrexza® to the portfolio.
- 5Significant decrease in Asset Impairment, Restructuring, and Other Special Charges, down 86% to $59.9 million, primarily due to lower Loxo acquisition-related costs compared to the prior year.
- 6Research and development expenses increased 13% to $1.39 billion, reflecting continued investment in late-stage assets.
- 7The company updated its full-year 2020 EPS guidance to a range of $6.20 to $6.40.