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Lilly Saw Pandemic-Related Benefits In Q1, Expects Headwinds Long Term

 
• By Joseph Haas

The pharma saw a $250m revenue increase due to inventory stockpiling and early prescription renewals, but its therapies outside cancer and diabetes may suffer in the coming quarters due to COVID-19.

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Lilly's strong first quarter benefited from pandemic-related stocking and early prescription renewals

Eli Lilly & Co. chairman and CEO David Ricks kicked off the pharma’s first quarter earnings call on 23 April with a lengthy discussion of the disruption the novel coronavirus pandemic has caused within and outside the world of biopharmaceuticals. The Indianapolis-based firm saw some revenue benefit from the pandemic during Q1, he said, but noted COVID-19 will take more of a toll on the company’s business during the rest of the year.

Lilly brought in an estimated $250m more in revenue during the first quarter due from purchases motivated by fear of supply chain disruptions, including wholesaler stockpiling of drugs and patient-level actions such as early renewals of prescriptions

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