Eli Lilly and Company (LLY) has updated certain elements of its 2021 guidance on both a reported and non-GAAP basis. Earnings per share is now expected to be in the range of $6.18 to $6.23 on a reported basis and $8.15 to $8.20 on a non-GAAP basis. Gross margin as a percent of revenue is still expected to be approximately 75 percent on a reported basis and is now expected to be approximately 78 percent on a non-GAAP basis. The company's previous guidance was non-GAAP earnings per share in a range of $7.95 to $8.05.
For 2021, Eli Lilly now expects revenue to be in the range of $28.0 billion to $28.3 billion, reflecting additional revenue from COVID-19 antibodies associated with the recent purchase agreement with the U.S. Government and the channel impact of the updated 2022 NRDL formulary in China. Previous revenue guidance was $27.2 to $27.6 billion.
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