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- 04/25/2017

Eli Lilly new drugs make its profit fly high

Pharma Horizon

Eli Lilly reported a bigger-than-expected first-quarter sales also due  its newest products, including a diabetes injection whose sales reached $808.3 million in the three-month period, representing growth of 148 percent. 

Among drugs reporting strong demand there are Trulicity, diabetes treatment, the psoriasis drug, Taltz and Cyramza lung cancer treatment.

“Lilly’s new product launches, including Trulicity and Taltz, led the company to a strong quarter of volume-driven revenue growth,” said in a statement David Ricks, who took over as chief executive  since last January.

If on one side the company had to face last November the failure of trial of its Alzheimer’s drug, solanezumab and  this month, the FDA hasn’t  approved a rheumatoid arthritis drug developed with Incyte, on the other side Trulicity, an injectable treatment that competes with Novo Nordisk’s blockbuster Victoza, continue to sell well and  brought in $372.9 million during the quarter, against the analyst forcast of  $328 million.

Also revenue from Humalog, Lilly’s biggest-selling diabetes drug, bet the analyst forecast rising 17 percent to $708.4 million.

Eli Lilly reported for the first quarter a loss of $110.8 million, versus a profit of $440.1 million in the same period of 2016. The Indianapolis-based drugmaker noted that the latest result included an acquired in-process R&D charge of $857.6 million associated with the acquisition of CoLucid Pharmaceuticals, which was completed last month. 


Source: The Financial Times, The Wall Street Journal, Cnbc