Eli Lilly lifts 2020 forecast as coronavirus lockdowns fuel profit beat [Reuters]
Eli Lilly and Company (LLY)
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Source: Reuters
Eli Lilly lifts 2020 forecast as coronavirus lockdowns fuel profit beat (Reuters) - Eli Lilly and Co ( LLY.N ) raised the top-end of its 2020 profit forecast on Thursday and beat quarterly estimates, benefiting from customers stocking up medicines such as diabetes drug Trulicity amid the coronavirus pandemic. Shares of the drugmaker rose 2.7% to $161 in early trading as first-quarter revenue got a nearly $250 million boost from increased demand for Lilly’s insulin products, Trulicity and psoriasis drug Taltz during the lockdowns. This benefit, however, would largely be reversed over the course of 2020, the company said and warned of a negative impact to its U.S. drug prices in a coronavirus-battered economy. Long-term U.S. unemployment rates would reduce the demand for drugs and even cut federal reimbursement for Lilly’s key drugs, said Citi Equities analyst Andrew Baum, adding there are cheaper options to Trulicity and Taltz. As patients shift from commercial insurance to federal i
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LLY
Earnings
- 2/4/26 - Beat
LLY
Sec Filings
- 3/6/26 - Form PRE
- 2/19/26 - Form 4
- 2/18/26 - Form 4
- LLY's page on the SEC website