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Lilly’s 2021 Double-Digit Growth Comes From COVID-19 Drugs, New Products

Prevail Purchase For $880m Adds Gene Therapy Capabilities

 
• By Mandy Jackson

Most of Lilly’s 2021 gains will come from its newer products, but sales of COVID-19 treatments added $500m to the company’s 2020 revenue guidance and may total $1bn-$2bn next year.

Business man showing pie chart in color background
Lilly forecasts growth across its portfolio of newer commercial products

Eli Lilly and Company unveiled sales and earnings expectations for 2021 on 15 December that forecast a year-over-year revenue increase of about 11%, with the company raising its 2020 revenue forecast by $500m. This year’s raised guidance and a portion of next year’s increase were attributed to sales of Lilly’s two COVID-19 treatments – the antibody therapy bamlanivimab and JAK inhibitor Olumiant (baricitinib) – but newer products will provide most of the revenue gains in 2021.

The company also outlined its research and development milestones for next year and announced that it will expand its R&D capabilities by adding a new modality to its portfolio – gene therapy via the purchase of Prevail Therapeutics Inc. Lilly will pay for $22

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