Eli Lilly forecasts $23B in revenue for 2018

Eli Lilly is forecasting revenue of $23 billion to $23.5 billion and adjusted earnings of $4.60 to $4.70 per share in 2018, according to CNBC.

The drugmaker attributes the forecasted revenue and adjusted earnings to a strong demand for its recently launched diabetes and psoriasis drugs.  In addition, the company expects additional progress in its drug portfolio in 2018, including a new rheumatoid arthritis treatment.

Even though Eli Lilly has seen increased competition from biosimilars entering the market, the company reaffirmed its expectation of at least a 5 percent annual revenue growth rate from 2015 to 2020.

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