Lilly reports further growth in third quarter of 2017

Lilly has announced its financial results for the third quarter of 2017, during which it delivered a revenue total of 5.66 billion (4.29 billion pounds).

This represented a year-on-year increase of nine percent, driven primarily by volume growth from new pharmaceutical products such as Trulicity, Basaglar, Taltz, Jardiance, Lartruvo, Cyramza, Olumiant and Portrazza, which accounted for 22 percent of total revenue.

Key highlights of the quarter included the receipt of regulatory approval and launch of Verzenio in the US, while baricitinib made progress with its regulatory application and positive phase III data was generated by lasmiditan and Verzenio.

Additionally, worldwide revenue from Lilly diabetes products collectively grew by 39 percent, while improvements were made on the company's operating margins.

The company now anticipates 2017 full-year revenue of between $22.4 billion and $22.7 billion, primarily due to the strong momentum of its portfolio and, to a lesser extent, to the positive impact of the euro.

David Ricks, Lilly's chairman and chief executive officer, said: "Lilly's focus on our key priorities led to strong performance in the third quarter, highlighted by revenue growth from our new pharmaceutical products."

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