Eli Lilly Reports First-Quarter Results, Adjusts Guidance
Eli Lilly (NYSE: LLY) released its first-quarter earnings before the market opened on Thursday, reporting revenue of $5.9 billion, up 15% year over year. Several of the pharma giant's drugs performed particularly well during the quarter. For instance, sales of the diabetes medication Trulicity hit $1.2 billion, up by 40% compared to the year-ago period. And Eli Lilly's plaque psoriasis treatment Taltz recorded revenue of $443.5 million, which represented a whopping 76% year over year increase.
Not all of the company's products performed well, however. The insulin product Humalog posted revenue of $695.8 million, down by 5% compared to the prior-year quarter. Eli Lilly estimated that during Q1, abnormal buying patterns caused by the ongoing COVID-19 pandemic boosted its revenue by $250 million worldwide.
Image Source: Getty Images.
Source Fool.com