Eli Lilly and Company has posted satisfactory financial performance during the second quarter ended June 2016 and its net profit increased by 24.5 per cent to $747.7 million from $600.8 million in the similar period of last year. Its revenues increased by 8.6 per cent to $5,405 million from $4,979 million. EPS improved to $0.71 from $0.57 in the last period.
The company's US sales improved by 14 per cent to $2,890 million from $2,528 million mainly due to several pharmaceutical products, primarily Trulicity, Erbitux and Humalog. Its sales in other markets increased by 3 per cent to $2,515 million from $2,451 million. The sales of Humalog, injectable human insulin analog for the treatment of diabetes, increased by 7 per cent to $702 million from $654 million and that of Cialis, a treatment for erectile dysfunction and benign prostatic hyperplasia, increased by 11 per cent to $631 million from $568 million. However, the sales of Alimta, a treatment for various cancers, declined by 9 per cent to $607 million from $664 million.
The company completed the acquisition of Novartis Animal Health during January 2015. Further, Bristol-Myers Squibb transferred their commercialization rights with respect of Erbitux in the US and Canada during October 2015.
For the first half ended June 2016, Eli Lilly's revenues increased by 6.7 per cent to $10,270 million from $9,623 million in the corresponding period of last year. Its net profit went up by 5.1 per cent to $1,188 million from $1,130 million.
The full year EPS is projected in the range of $2.68 to $2.78 and it expects 2016 revenue of between $20.6 billion and $21.1 billion.