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Lilly Says Volume Growth Strategy, Launches Working Despite Price Pressures

 
• By Joseph Haas

Trulicity, Taltz grew in the first quarter, but below analyst consensus estimates. Company points to price decreases as holding down growth.

Indianapolis - Circa April 2016: Eli Lilly and Company World Headquarters. Lilly makes Medicines and Pharmaceuticals IV
Lilly posted 7% volume growth during the first quarter, but that was offset by pricing pressures

Eli Lilly & Co. painted a bright picture of its strategy to grow via business volume and product launches on 30 April but first quarter sales growth for a pair of those newer products, Taltz and Trulicity, fell below analyst consensus estimates. The Indianapolis pharma told its first quarter 2019 earnings call that pricing pressures are constraining growth but insisted that its overall strategy is delivering.

Lilly said worldwide pharmaceutical revenue grew by 3% year-over-year to nearly $5.1bn. Prescription volume increased by 7% during the quarter worldwide, but pricing pressure resulted in a 3% drag on overall growth as rebates, the introduction of an authorized generic version of Humalog and other price factors roughly cut in half the benefit of 6% volume growth for US revenues, which totaled nearly $2.9bn

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