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Eli Lilly’s Latest Developments and Valuation

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Part 9
Eli Lilly’s Latest Developments and Valuation PART 9 OF 10

Quarterly Performance of Eli Lilly’s Elanco

Elanco

Elanco is Eli Lilly’s (LLY) animal health brand. Elanco includes food animal products as well as companion animal products. Its revenues fell ~9.0% to $784.8 million in 2Q17 compared to $859.8 million in 2Q16.

Quarterly Performance of Eli Lilly’s Elanco

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The above chart shows revenues for Elanco over the last few quarters. Elanco contributes more than 13.0% of Eli Lilly’s total revenues.

Revenues for Elanco

Elanco revenues are reported in two categories or franchises: companion animal products and food and other products. These revenues include sales from the acquired animal health business of Novartis (NVS).

Elanco sales from US markets fell 9.0% to $406.5 million in 2Q17 compared to 2Q16. The fall was due to a 23.0% fall in sales of food and other products following competition from similar products and market access pressure in cattle and swine products. The fall was substantially offset by a 9.0% rise in sales of companion animal products, driven by the inclusion of Boehringer Ingelheim Vetmedica’s US vaccines portfolio, including feline, canine, and rabies vaccines.

Elanco sales outside the US markets fell 9.0% to $378.3 million in 2Q17 compared to 2Q16. The fall was driven by lower sales of food and other products as well as companion products in 2Q17.

Food and other products

Food and other products reported a 14.0% fall in revenues to $473.1 million in 2Q17, which was a 14.0% fall compared to $550.0 million in 2Q16. The fall was driven by a 23.0% fall in US sales and a 7.0% fall in sales outside the US markets in 2Q17. Sales outside the US markets include a 5.0% fall at constant exchange rates and a 2.0% negative impact of foreign exchange.

Companion animal products

Companion animal products reported a marginal rise in revenues to $311.8 million in 2Q17 compared to sales of $309.8 million in 2Q16. Growth was driven by a 9.0% rise in US revenues to $222.8 million, offset by a 16.0% fall in revenues outside the US markets to $88.9 million in 2Q17.

The iShares Russell Top 200 Growth (IWY) has invested 0.90% of its total assets in Eli Lilly (LLY). IWY also has invested 0.90% in Gilead Sciences (GILD), 1.2% in Celgene (CELG), and 1.5% in AbbVie (ABBV).

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