Eli Lilly lifts 2020 profit forecast; coronavirus fuels stockpiling of its medicines [Toronto Globe and Mail (Ontario, Canada)]
Eli Lilly and Company (LLY)
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Source: Toronto Globe and Mail
Eli Lilly lifts 2020 profit forecast; coronavirus fuels stockpiling of its medicines Boxes of the drug Trulicity, made by Eli Lilly and Co., sit on a counter at a pharmacy in Provo, Utah, U.S. Jan. 9, 2020. George Frey/Reuters Boxes of the drug Trulicity, made by Eli Lilly and Co., sit on a counter at a pharmacy in Provo, Utah, U.S. Jan. 9, 2020. Eli Lilly and Co raised the top-end of its 2020 profit forecast on Thursday and reported better-than-expected quarterly results, as customers stocking up medicines such as diabetes drug Trulicity during the coronavirus pandemic boosted sales. First-quarter revenue got a nearly $250 million boost from stockpiling of Lilly’s insulin products, Trulicity and psoriasis drug Taltz. However, this benefit would largely be reversed over the course of 2020, the company said. Lilly raised the top end of its full-year adjusted profit forecast by 10 cents, citing increased demand for its newer drugs, and now expects to earn $6.70 to $6.90 per share. It
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