Eli Lilly Announces 2013 Financial Guidance - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Eli Lilly Announces 2013 Financial Guidance


ePT--the Electronic Newsletter of Pharmaceutical Technology

Eli Lilly expects overall revenue growth in 2013 with anticipated revenue between $22.6 and $23.4 billion, according to a Jan. 4, 2013 press release, which announced the company’s 2013 financial guidance. The company expects full-year 2013 earnings per share to be in the range of $4.03 to $4.18 on a reported basis. Earnings per share would be $3.75 to $3.90 on a non-GAAP basis when excluding an estimated $0.28 per share of exenatide-related income contingent upon the transfer of exenatide commercial rights outside the US to Amylin, notes the company.

This guidance excludes the one-time impact of the tax benefit from the American Taxpayer Relief Act of 2012, which relates to 2012 financial results but will be reflected in the 2013 results because the Act was not officially enacted until 2013.

"We remain on track to meet or exceed our minimum financial performance targets,” said Derica Rice, Lilly executive vice president, global services, and chief financial officer, in the press release. “From now through 2014, on an annual basis we still expect revenue to be at least $20 billion, net income to be at least $3 billion, and operating cash flow to be at least $4 billion."

The company seeks to bridge a period of patent expirations and return to sustainable growth. "We are replenishing and advancing our pipeline, which now has 13 potential new medicines in Phase III testing,” said John C. Lechleiter, PhD, Lilly's chairman, president and chief executive officer, in the press release. “We are investing to drive growth in key currently marketed brands and in our counter-cyclical growth areas, and we continue to make productivity gains across our business to fund the R&D necessary to fuel our future growth, recapitalize our physical assets, maintain our dividend, and support our share repurchase program.”

The company expects total operating expenses in 2013 to be flat or slightly less than 2012 as a result of continued expense controls and productivity gains. Marketing, selling, and administrative expenses are expected in the range of $7.1 billion to $7.4 billion, and R&D expenses are expected to be in the range of $5.2 billion to $5.5 billion.

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
What role should the US government play in the current Ebola outbreak?
Finance development of drugs to treat/prevent disease.
Oversee medical treatment of patients in the US.
Provide treatment for patients globally.
All of the above.
No government involvement in patient treatment or drug development.
Finance development of drugs to treat/prevent disease.
28%
Oversee medical treatment of patients in the US.
11%
Provide treatment for patients globally.
8%
All of the above.
42%
No government involvement in patient treatment or drug development.
11%
Jim Miller Outsourcing Outlook Jim MillerCMO Industry Thins Out
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerFluorination Remains Key Challenge in API Synthesis
Marilyn E. Morris Guest EditorialMarilyn E. MorrisBolstering Graduate Education and Research Programs
Jill Wechsler Regulatory Watch Jill Wechsler Biopharma Manufacturers Respond to Ebola Crisis
Sean Milmo European Regulatory WatchSean MilmoHarmonizing Marketing Approval of Generic Drugs in Europe
FDA Reorganization to Promote Drug Quality
FDA Readies Quality Metrics Measures
New FDA Team to Spur Modern Drug Manufacturing
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here