Lilly to take Q3 IPR&D charge of $2.83B, or $3.08 per share
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Eli Lilly (NYSE:LLY) said it plans to take a Q3 acquired in-process research and development, or IPR&D, charge of approximately $2.83B on a pre-tax basis, which should lower its GAAP and non-GAAP earnings per share by $3.08.
Analysts, on average, expected Lilly to post Q3 GAAP EPS of $4.52 and non-GAAP EPS of $4.50.
The drugmaker is expected to release its Q3 earnings report during market hours on Oct. 30.