Eli Lilly expects profit in 2023 below expectations
2022.12.13 08:53
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Eli Lilly expects profit in 2023 below expectations
Budrigannews.com – Eli Lilly (NYSE:) on Tuesday, and Co. warned that a stronger dollar and falling sales of its cancer drug Alimta would put pressure on its adjusted profit for 2023, which would fall short of expectations.
Refinitiv IBES data indicates that it anticipates an adjusted profit of $8.10 to $8.30 per share in 2023, in contrast to analysts’ average estimate of $9.15 per share. The drugmaker’s expectation for this year was, however, lower than the forecast for 2023.
In comparison to estimates of $30.12 billion, the business anticipates revenue of $30.3 billion to $30.8 billion in 2023.
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“lower revenue for Alimta due to its loss of patent exclusivity, no anticipated COVID-19 antibody revenue, and the continued negative impact of foreign exchange rates,” the company claimed.
Donanemab, which is used to treat Alzheimer’s disease, and tirzepatide, which is used to treat obesity, are two of the company’s most promising drug candidates. Next year, the company is also anticipating data releases and the possibility of their approval.
