Eli Lilly Shares Gain After Boosting 2021 Profit, Sales Forecast; Issues 2022 Guidance

Eli Lilly And Co LLY raised its full-year 2021 profit and sales expectations, helped partly by a recent U.S. government contract for its COVID-19 antibody treatment.

• Last month, the U.S. government bought 614,000 additional doses of its COVID-19 antibody therapy, a cocktail of bamlanivimab and etesevimab, for $1.29 billion.
• The Company said it now expects COVID-19 therapies to bring in about $2.1 billion in sales in 2021, up from an earlier forecast of $1.3 billion.
• Related Link: Eli Lilly Q3 Earnings Beat Estimates, Boosts FY21 Guidance On Higher COVID-19 Therapy Sales.
• Lilly said it expects adjusted EPS of $8.15 - $8.20 (consensus of $7.13), up from earlier guidance of $7.95 - $8.05. 
• The Company said it expects 2021 revenue of $28.0 billion - $28.3 billion, compared with its previous forecast of $27.2 billion - $27.6 billion.
• The Company also forecasted 2022 adjusted EPS of $8.50 - $8.65.
• Also See: Lilly's COVID-19 Antibody Cocktail Scores FDA Emergency Use For Kids, Including Newborns.
• Price Action: LLY shares are up 7.91% at $269.12 during the market session on the last check Wednesday.