Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is expecting low-single-digit revenue growth next year. In its 2018 financial guidance, the drugmaker is projecting revenue to be between $23 billion and $23.5 billion, driven by recently-launched products including Trulicity, Taltz and Cyramza.
Lilly expects earnings per share for 2018 to be in the range of $4.24 to $4.34. The company is maintaining expectations for at least 5 percent average annual revenue growth from 2015 to 2020. Lilly is decreasing 2017 earnings per share guidance to $1.56 to $1.66, citing changes in estimates to restructuring and other special charges.
"Looking to the future," says Chief Executive Officer David Ricks, "the potential of our pipeline remains strong, including new medicines in development for the treatment of migraine, rheumatoid arthritis, pain, cancer and diabetes, as well as additional indications for many of our recently launched products."
Last month, Lilly said about 2,300 U.S. employees have taken voluntary early retirement as part of previously-announced global reduction plans. At the time, the company said those plans are "on track" to meet a 3,500-position target, in hopes of saving about $500 million in 2018.