Eli Lilly and Co (NYSE:LLY) repaired some of the damage caused by its failed Alzheimer’s drug as its raised its sales and earnings guidance for next year.
The pharma's shares tanked in November when experimental Alzheimer’s drug Solanezumab was shown to have had almost no impact.
Today, though, it said revenues will be in a range of US$21.8bn–US$22.3bn with underlying earnings between US$4.05 to US$4.15.
Consensus forecasts had suggested revenues of US$ 21.7bn and earnings per share a shade under US$4.
Growth in its portfolio of new products was behind the better than expected forecasts.
Shares rose 3.4% to US$69.94.