Lilly reports strong growth for 2016 in new financial report

Lilly has announced its financial results for 2016, during which it delivered a full-year revenue total of $21.2 billion (16.81 billion pounds).

This represented a year-on-year increase of six percent, thanks to strong fourth-quarter revenue growth of seven percent. This was driven by volume growth from Trulicity and other new pharmaceutical products.

During 2016, Lilly achieved encouraging pipeline progress, with its drug Jardiance receiving US and EU approval in a new cardiovascular indication, while Synjardy XR was granted US approval and Lartruvo also received a conditional EU green light.

Additionally, an agreement was reached to acquire CoLucid Pharmaceuticals, a move that will enhance Lilly's portfolio in pain management for migraine, while adding a potential near-term launch to its late-stage pipeline.

David Ricks, Lilly's president and chief executive officer, said: "We expect this momentum to continue in 2017 and remain focused on launching new products, improving productivity and advancing our pipeline as we work to bring life-changing medicines to patients."

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