Shares of Eli Lilly (LLY) ended the first trading week of 2013 on a strong note. The pharmaceutical developer, manufacturer and distributor of a variety of drugs commented on its 2012 performance and gave an upbeat outlook for 2013 and beyond, sending shares 3.7% higher.
Updated Outlook For 2012
Eli Lilly previously guided for 2012 earnings per share of $3.68-$3.78, on a reported basis. Excluding a one-time benefit of $0.43 per share from the early payment of the exenatide revenue sharing obligation, non-GAAP earnings were guided to come in at $3.30-$3.40 per share.
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