Eli Lilly and Co 2015 revenue and earnings forecast indicates that the company’s overall market expectations in the drug industry is looking to recover after patent expiration on some biggest sellers.
The company’s overall sales started to fall late 2011 during their Zyprexa schizophrenia drug, Eli Lilly and Co’s top selling product began facing intense competition from other generic drugs in the U.S. which is way cheaper.
Eli Lilly and Co still boasts to be one of the strongest and the best pipelines in history. They announced last Wednesday that their next growth phase would be initiated by new cancer and diabetes drugs added with the expansion of the animal health industry.
The company’s overall shares changed little during midday trading at $69.36, 2015 sales forecast amounting to $20.3B to $20.8B, considering the strong Dollar impact amounting to $500 million. Forecast of overall adjusted earnings amounted to $3.10 to $3.20 for every share.
Thomson Reuters I/B/E/S reported that average overall estimated earnings of analysts were recorded at $3.22 for every share on total sales amounting to $20.87B. Vamil Divan, a Credit Suisse analyst, stated that the overall low sales guidance led to the recent Eli Lilly and Co 2015 revenue and earnings forecast, and it may also reflect additional muted expectations when it comes to their existing drugs and also some recent launches.