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Lilly expects revenue, product pipeline to boost 2020 earnings

Eli Lilly and Co. expects volume-based revenue growth and improved productivity to expand operating margin and boost earnings for the full year 2020.

The Indianapolis-based pharmaceutical giant said its 2020 non-GAAP EPS is expected to be in the range of $6.70 to $6.80. On a reported basis, EPS is expected to be between $6.38 and $6.48.

Lilly CFO Josh Smiley said in a Dec. 17 press release that the company expects revenue growth in 2020 for key medicines in the U.S. and international markets, while continuing progress in the clinical pipeline of new medicines. Solid cash flow is also expected.

Chairman and CEO David Ricks said Lilly has limited exposure to the expiration of patents through the latter half of the upcoming decade, positioning the company to achieve sustainable volume-based revenue growth while expand operating margin.

Lilly lowered full-year 2019 EPS guidance on a reported basis to be in the range of $8.57 to $8.67 from the previous estimate of $8.59 to $8.69. The company said the decrease was due to a net charge related to repurchase of debt, restructuring and certain global cost reduction initiatives, among other things. The decrease, however, was largely offset by the sale of the antibiotics business in China.

On a non-GAAP basis, Lilly still expects EPS to be in the range of $5.75 to $5.85 for 2019. Revenue is estimated to fall between $22 billion and $22.5 billion, as per a prior estimate.