Lilly Issues 2019 Guidance

Lilly last month detailed plans to invest $850 million into its U.S. operations this year.

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Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced 2019 financial guidance, with projected revenue and adjusted profit above analyst expectations. The company says the growth is driven by demand for newer medicines including Trulicity, for diabetes, and psoriasis drug Taltz.

The company is projecting 2019 revenue between $25.3 billion and $25.8 billion, and earnings per share between $5.52 and $5.62.

Chief Executive Officer David Ricks says, while he’s happy with current performance, "we are determined to raise the bar higher," adding that the company aims "to create new medicines over the next decade that will transform the care of serious illnesses, and provide valuable new treatment options for doctors and patients."

Last month, Lilly reported third quarter net income of $1.42 billion, up from $1.1 billion during the same period the previous year. The earnings report was the first for Lilly since spinning off Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) as an independent company.