Eli Lilly & Co. (NYSE: LLY) reported Q2 EPS of $0.86, in-line with the analyst estimate of $0.86. Revenue for the quarter came in at $5.4 billion versus the consensus estimate of $5.15 billion.

• The company provides updated financial expectations through the remainder of the decade, including at least 5 percent average annual revenue growth driven by volume, along with an increase in gross margin as a percent of revenue, both on a constant currency basis. The company also plans to return to annual dividend increases for shareholders and reaffirmed its commitment to achieve an OPEX-to-revenue ratio of 50 percent or less in 2018.
• Significant pipeline progress continued with regulatory approval of Taltz in Japan, priority review granted for olaratumab in the U.S., a positive FDA Advisory Committee vote on Jardiance and an encouraging Phase 2 data read-out for abemaciclib.

Eli Lilly & Co. reaffirmed FY2016 guidance.

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