Eli Lilly & Co. (NYSE: LLY) reported Q4 EPS of $0.75, $0.01 better than the analyst estimate of $0.74. Revenue for the quarter came in at $5.12 billion versus the consensus estimate of $5.21 billion.

Key Events Over the Last Three Months

• The acquisition of Novartis Animal Health was completed on January 1, 2015 in an all-cash transaction of approximately $5.4 billion. As part of the approval, certain animal health assets in the U.S. relating to the Sentinel® canine parasiticide franchise were divested to Virbac for approximately $410 million.
• The U.S. Food and Drug Administration (FDA) approved and the company launched Cyramza® (ramucirumab) in combination with docetaxel, for the treatment of patients with metastatic non-small cell lung cancer (NSCLC) with disease progression on or after platinum-based chemotherapy.
• The FDA approved and the company launched Cyramza in combination with paclitaxel as a treatment for people with advanced or metastatic gastric (stomach) or gastroesophageal junction (GEJ) adenocarcinoma whose cancer has progressed on or after prior fluoropyrimidine- or platinum-containing chemotherapy.
• The European Commission approved and the company launched Cyramza in combination with paclitaxel for the treatment of advanced gastric or GEJ adenocarcinoma following prior chemotherapy and as a monotherapy in this setting where treatment in combination with paclitaxel is not appropriate.
• The company completed its rolling FDA submission and the European submission for necitumumab in combination with gemcitabine and cisplatin for the first-line treatment of patients with locally advanced or metastatic squamous non-small cell lung cancer.
• The European Commission approved Trulicity™ (dulaglutide), a once-weekly GLP-1 receptor agonist treatment to help improve glycemic control in adults with type 2 diabetes. Trulicity has now launched in the U.S. and Europe.
• The company announced a worldwide licensing collaboration with Adocia focused on developing an ultra-rapid insulin, known as BioChaperone Lispro, for treatment in people with type 1 and type 2 diabetes. BioChaperone Lispro is currently in Phase Ib studies.
• The company announced an oncology clinical trial collaboration with Merck to evaluate the safety, tolerability and preliminary efficacy of Keytruda® (pembrolizumab), Merck's anti-PD-1 therapy, in combination with Lilly's pemetrexed (Alimta®), ramucirumab (Cyramza) and necitumumab in multiple clinical trials.
• The company announced a clinical trial collaboration with Bristol-Myers Squibb to evaluate the safety, tolerability and preliminary efficacy of Bristol-Myers Squibb's immunotherapy Opdivo® (nivolumab) in combination with Lilly's galunisertib (LY2157299) in multiple tumor types.
• The company and its partner, Boehringer Ingelheim, announced a change to the operational and financial structure of their diabetes alliance. Under the revised agreement, Lilly and Boehringer Ingelheim will continue co-promotion in 17 countries, representing approximately 90 percent of the alliance's anticipated market opportunity. In all other countries, the companies will exclusively commercialize the respective molecules they brought to the alliance.
• The company and Incyte Corporation announced that the primary endpoint of improved ACR20 response compared to placebo was met in the Phase III study of baricitinib in patients with moderately-to-severely active rheumatoid arthritis who previously failed one or more TNF inhibitors. The companies will share results of several ongoing Phase III studies in various disclosures in 2015.
• The company announced a dividend for the first quarter of 2015 of $0.50 per share on outstanding common stock representing a 2 percent increase. The annual indicated rate is now $2.00 per share.
• As part of its previously-announced share repurchase program, the company repurchased approximately $300 million in company stock in the fourth quarter of 2014. For the full year 2014, the company returned approximately $2.9 billion in cash to shareholders through both its dividend and share repurchase program.

Guidance:

Sees FY15 revs of $19.5 - $20 billion, from prior guidance of $20.3 - $20.8 billion and the consensus of $20.6 billion. The company reaffirmed FY15 adjusted EPS guidance.

For earnings history and earnings-related data on Eli Lilly & Co. (LLY) click here.