Eli Lilly reported revenue and adjusted earnings that topped expectations, lifted by $1.4 billion in sales from its blockbuster diabetes drug Mounjaro.
Cristina Arias | Cover | Getty Imageson Thursday reported third-quarter revenue and adjusted earnings that topped estimates on strong demand for its diabetes drug Mounjaro, but slashed its full-year profit guidance due to charges primarily related to its recent acquisitions.
For the quarter ended Sept. 30, Eli Lilly posted a loss of $57.4 million, or six cents a share, compared with a profit of $1.45 billion, or $1.61 a share, a year earlier. Excluding one-time items, the company posted a per-share profit of 10 cents. Eli Lilly recorded pre-tax "in-process research and development" charges of $2.98 billion, which are primarily related to a slew of recent buyouts, including DICE Therapeutics, Versanis Bio and Emergence Therapeutics AG.The company lowered its 2023 adjusted earnings guidance to a range of $6.50 to $6.70, from a previous range of $9.70 to $9.90 per share.With a market cap of roughly $526 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eli Lilly beats quarterly revenue estimates on Mounjaro strengthEli Lilly (LLY.N) beat Wall Street's revenue estimates for the third quarter on Thursday, lifted by strong demand for its diabetes drug Mounjaro that brought in over a billion dollars in sales.
Read more »
Eli Lilly beats quarterly revenue estimates on Mounjaro strengthEli Lilly beats quarterly revenue estimates on Mounjaro strength
Read more »
Eli Lilly Stock Slumps as Earnings Guidance Slashed DramaticallyLilly slashes its guidance for full-year earnings to a range of $6.50 to $6.70 a share, having raised its outlook in August to a range of $9.70 to $9.90.
Read more »
Eli Lilly falls after cutting full-year profit forecastEli Lilly falls after cutting full-year profit forecast
Read more »
Eli Lilly’s stock drops after surprise profit is reported but full-year outlook was slashedTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Read more »
Eli Ward, Jason Arcilla ‘Serenade’ Gwen Stefani on NBC's 'The Voice'The Team Gwen pair tackled Bread’s “Make It With You,” which led the Billboard Hot 100 for a single week in 1970.
Read more »