Lilly ups forecasts for 2018 on strong 2017 performance

Lilly has announced its financial results for 2017, during which it generated a full-year revenue total of $22.87 billion (GBP 16.2 billion).

This represents a year-on-year increase of eight percent, with a strong fourth quarter result of $6.16 billion – up by seven percent – contributing to this performance. This was driven primarily by volume growth from new pharmaceutical products, while operating expenses remained flat.

New product revenue – composed of Trulicity, Cyramza, Taltz, Basaglar, Jardiance, Lartruvo, Olumiant, Verzenio and Portrazza – drove 12 percent volume growth and represented 23 percent of total revenue.

Key milestones achieved over the last year include the approval of Taltz in the US and EU for active psoriatic arthritis and the start of a clinical trial for a new automated insulin delivery system.

For 2018, the company has increased its earnings per share guidance to a new range of $4.39 to $4.49.

David Ricks, Lilly's chairman and chief executive officer, said: "Lilly's new products, including Trulicity, Taltz and Jardiance, continued to drive solid revenue growth in the fourth quarter of 2017, while we maintained flat operating expenses. Momentum continues for our innovation-based strategy."

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