Eli Lilly & Co has posted net profit growth of 11.6 per cent during the fourth quarter ended December 2015 to $478.4 million from $428.5 million in the corresponding period of last year. Its revenue increased by 5 per cent to $ 5,376 million from $5,121 million mainly due to increased volume and higher prices. Further, the increase in worldwide volume was partially due to the inclusion of revenue from Novartis Animal Health and increased volume for several products, including Trulicity and Cyramza, as well as Erbitux due to the transfer of commercialization rights in North America. The company lost exclusivity for Cymbalta. EPS improved to $0.45 from $0.40 in the last period.
Dr John C Lechleiter, chairman, president and CEO, said, “Lilly's 2015 results reinforce our confidence in the future with six FDA approvals and multiple positive phase III data readouts, as well as encouraging results from newly launched products including Cyramza, Trulicity, Jardiance and Basaglar. In 2016, we aim to continue revenue growth, margin expansion and value creation for our shareholders, all while sustaining a flow of innovative medicines from our pipeline to improve people's lives.”
Its revenue in US increased by 15 per cent to $2,821 million, driven by higher prices and others. However, its revenue outside US, declined by 4 per cent to $2,555 million due to unfavorable impct of foreign exchange rates and the loss of exclusivity for Cymbalta in Europe in 2014.
The company launched Portrazza (necitumumab) in the US, in combination with gemcitabine and cisplatin, as the first biologic for the first-line treatment of patients with metastatic squamous non-small cell lung cancer. US FDA approved Basaglar (insulin glargine injection ) 100 units/ml. Basaglar is a long-acting insulin with an identical amino acid sequence to Lantus, another U-100 insulin glargine.
For the full year ended December 2015, Eli Lilly's revenues increased by 2 per cent to $20 billion from $19.6 billion in the previous year. Its net income went up only one per cent to $2.4 billion from $2.4 billion. EPS worked out to $2.26 as against $2.23. Its R&D expenditure almost same at $4.8 billion as against $4.7 billion. Its revenue in US increased by 11 per cent to $10,097 million and its revenue outside US declined by 6 per cent to $9,861 million.
The sales of Humalog increased by 2 per cent to $2,842 million during the year ended December 2015 from $2,785 million in the previous year. However, sales of Alimta declined by 11 per cent to $2,493 million from $2,792 million. Cialis registered sales of 2,310 million as against $2,291 million and Forteo achieved sales of $1,348 million as compared to $1,322 million. The sales of Cymbalta declined by 36 per cent to $ 1,028 million from $1,615 million and that of Humulin declined by 7 per cent to $1,307 million.
The company projected 2016 revenue between $20.2 billion and $20.7 billion and EPS in the range of $3.45 to $3.55.