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Eli Lilly and Co. (LLY)
Eli Lilly and Co. (LLY)

Pharmaceutical products maker Eli Lilly and Co. (LLY) is due to publish its Q2 financial results on Tuesday, July 30, with analysts polled by Thomson Reuters estimating earnings of $1.45 per share on revenue of $5.59 billion. Analysts' estimate typically exclude certain special items.

Year-Ago Numbers:

* Revenue - $6.36 Bln
* Reported Net Loss - $259.9 Mln
* Reported Loss Per Share - $0.25
* Non-GAAP Net Income - $1.55 Bln
* Non-GAAP EPS - $1.50.

Updated FY19 Guidance to Reflect Disposition of Elanco:

* Now expects FY19 reported EPS in the range of $8.57 - $8.67 versus prior view of $4.57 - $4.67/Shr.
* Now expects FY19 non-GAAP EPS of $5.60 - $5.70 versus prior outlook range of $5.55 - $5.65/Shr; Consensus - $5.62/Shr.
* Now projects FY19 revenue to be between $22.0 bln and $22.5 bln versus prior view of $25.1 bln - $25.6 bln; Consensus - $22.21 bln.

Recent Happenings:

* June 26, Eli Lilly said, in a phase 3 double-blind, parallel arm study, higher investigational doses of Trulicity (dulaglutide) significantly reduced A1C from baseline in people with type 2 diabetes, compared to once-weekly Trulicity 1.5 mg after 36 weeks. The trial also showed superiority on weight reduction. The safety data of the investigational doses was consistent with the known profile of Trulicity 1.5 mg. The AWARD-11 trial will continue through 52 weeks. It is expected to complete in late 2019.

* Boehringer Ingelheim and Eli Lilly said the FDA has granted Fast Track designation to empagliflozin for the ongoing EMPEROR program, which will evaluate the effect of the tablet on cardiovascular death and hospitalization for heart failure in adults with chronic heart failure with reduced or preserved ejection fraction. The EMPEROR phase III studies are part of the empagliflozin chronic heart failure program. Empagliflozin is marketed as Jardiance in the U.S. Jardiance is a registered trademark of Boehringer Ingelheim.

* June 14, Eli Lilly said Taltz demonstrated effe