Lilly sees 16% non-GAAP EPS growth next year

Eli Lilly (NYSE:LLY) updates its 2019 guidance this morning and provides its 2020 outlook. Key points:

2019: Revenue: $22.0B 0 22.5B (unch); EPS: $8.57 – 8.67 from $8.59 – 8.69; non-GAAP EPS: $5.75 – 5.85 (unch).

2020: Revenue: $23.6B – 24.1B; EPS: $6.38 – 6.48; non-GAAP EPS: $6.70 – 6.80.

Revenue growth drivers: Trulicity, Taltz, Basaglar, Jardiance, Verzenio, Cyramza, Olumiant, Emgality, Baqsimi and Reyvow.

Revenue offsets: Generic encroachment on off-patent medicines, including Forteo, and an expected low single-digit net price decline in the U.S. from rebates and legislated increases to Medicare Part D cost-sharing, patient affordability programs and net price declines in China, Japan and Europe.

Management will host a conference call this morning at 9:00 ET to review guidance.

https://seekingalpha.com/news/3526686-lilly-sees-16-non-gaap-eps-growth-next-year