Eli Lilly (NYSE:LLY) is expected to report Q3 earnings before the market open on Thursday, October 20 with a conference call scheduled for 9:00 am ET. Analysts are looking for EPS of $1.13 on revenue of $6.06B. The consensus range is $1.05-$1.23 for EPS, and $5.91B-$6.19B for revenue, according to First Call. In July, the company forecast FY11 EPS $4.25-$4.35 vs. consensus $4.33, and FY11 total revenue up mid-single digits vs. consensus $23.98B. Eli Lilly also saw capital spending for the year of $700M-$800M, and expected cash flow sufficient enough to fund the expenditures.
On its Q2 earnings conference call, the company said it expects to see continued strong volume growth in revenue, esspecially in Japan and other emerging markets. During the call, it also said it had interest in buying some of Pfizer's (NYSE:PFE) animal health products, but decided against it in October. In addition, the company had seen a "severe drop" in Zyprexa sales after losing its patent protection for its top-selling drug. Outside of Zyprexa, however, Eli Lilly had several bits of positive news in relation to its products. Various studies showed positive results for Forteo in increasing vertebral strength, Efficient in reducing risk in cardiovascular death, Bydureon in select cardiovascular risk factors, and Cialis for improving symptoms in benign prostatic hyperplasia and erectile dysfunction. The company also won FDA approval for Cialias, as well as European approval for Linagliptin as treatment for diabetes. In addition, it won an appeal protecting Strattera against generic competition from companies that included Teva and Mylan. In August, Eli Lilly was upgraded to Market Perform at Leerink and to Buy at Argus.
Eli Lilly is currently above its 50-day moving average (MA) of $36.71 and above its 200-day of $36.42. In the last five trading sessions, the 50-day MA has climbed 0.43% while the 200-day MA has remained constant.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products for humans and animals. The Company's products are sold in countries around the world. Eli Lilly's products include neuroscience products, endocrine products, anti-infectives, cardiovascular agents, oncology products, and animal health products.
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