Pharmaceutical giant Eli Lilly and Co (NYSE:LLY) has told investors it expects a low-single-digit revenue increase next year due to robust sales of recently-launched products.
The Indianapolis-based group, known more commonly as Lilly, said it had seen strong demand for its new diabetes drug Trulicity and its psoriasis treatment Taltz among others.
Lilly is guiding for revenue of between US$23bn and US$23.5bn in 2018, compared to the US$22.4bn-US$22.7bn it expects this year.
The company expects 2018 earnings per share of US$4.24 to US$4.34 – or between US$4.60 and US$4.70 on an adjusted basis.
Lilly did lower its 2017 earnings per share guidance by US$0.17 though, to a range of US$1.56 to US$1.66 but reiterated its adjusted forecast of between US$4.15 and US$4.25.
As for what to expect in 2018, the firm said it expected to make regulatory progress on its rheumatoid arthritis treatment baricitinib; its migraine treatment galcanezumab; and a new indication for Verzenio in breast cancer.
Shares were broadly flat in pre-market trade at US$86.90.