Eli Lilly Q3 Earnings Beat Estimates, Boosts FY21 Guidance On Higher COVID-19 Therapy Sales - Eli Lilly and Co (NYSE:LLY)

Eli Lilly And Co LLY has posted Q3 sales of $6.77 billion, beating the consensus of $5.70 billion and increasing 18% Y/Y.
Higher sales were driven by a 17% increase in volume and a 1% increase due to the favorable impact of foreign exchange rates. Net realized prices were essentially flat.
Key growth products included Trulicity, Taltz, Verzenio, Jardiance, Emgality, Olumiant, Tyvyt, Retevmo, and Cyramza.
Revenue from COVID-19 therapies during the quarter reached $423.5 million.
The gross margin was 78.9%, an increase of 2.0 percentage points. Adjusted operating margin reached 30.5%.
Adjusted EPS increased 38% Y/Y to $1.94, sharply ahead of the consensus of $1.68.
FY21 guidance: Eli Lilly anticipates revenue of $27.2 billion - $27.6 billion, better than $26.8 billion - $27.4 billion previously expected, reflecting additional revenue from COVID-19 antibodies and the core business.
It forecasts revenue from COVID-19 therapies of $1.3 billion, higher than $1.0 billion - $1.1 billion, anticipated earlier.
Lilly sees adjusted EPS $7.95 - $8.05, better than the prior guidance of $7.80 - $8.00, versus the consensus of $6.80.
Related: AbCellera Stock Is Moving Higher After Expanded Use Nod For Lilly-Partnered COVID-19 Antibody.
Price Action: LLY shares are up 0.18% at $245.5 during the premarket session on the last check Tuesday.