Eli Lilly And Co (NYSE:LLY) is trading higher Wednesday after the company highlighted its growth strategy and issued guidance above estimates.
Eli Lilly expects full-year 2021 adjusted earnings to be in a range of $8.15 to $8.20 per share versus the estimate of $7.13 per share. The company expects 2021 revenue to be in a range of $28 billion to $28.3 billion.
Eli Lilly also expects full-year 2022 adjusted earnings to be in a range of $8.50 to $8.65 per share. The company expects 2022 revenue to be in a range of $27.8 billion to $28.3 billion.
Said CFO Anat Ashkenazi, "We believe the continued uptake of our key growth products – which we expect will account for more than two-thirds of core business revenue in 2022 – coupled with our anticipated upcoming launches will allow Lilly to deliver top-tier, volume-driven revenue growth through at least 2030."
As part of its investment community meeting Wednesday, Lilly "also will reinforce its commitment to innovation and investment in science to create the next wave of new medicines for patients, share new information across its four therapeutic areas - including pipeline and regulatory updates and new data readouts for early-phase molecules - and provide visibility to future investments."
The company announces initiation of rolling submission to the Food and Drug Administration for pirtobrutinib in mantle cell lymphoma, reveals new phase 3 trials planned for tirzepatide in obesity outcomes, sleep apnea and kidney disease, and releases new biomarker data supporting donanemab efficacy.
LLY began Wednesday trading ahead $10.94, or 4.4%, to $260.32.
