Eli Lilly sees acquired IPR&D charges impacting Q2 EPS by 9c

Eli Lilly and Company reports that it currently expects that its reported financial results calculated in accordance with U.S. generally accepted accounting principles, or “GAAP,” and its non-GAAP financial results for the second quarter of 2023 will include acquired In-Process Research and Development, or “IPR&D,” charges of approximately $97M on a pre-tax basis, representing a charge of 9c to both GAAP and non-GAAP earnings per share. “Lilly’s results for the quarter ended June 30, 2023 have not been finalized and are subject to Lilly’s financial statement closing procedures. There can be no assurance that actual results will not differ from the preliminary estimates described herein. As previously disclosed, while acquired IPR&D charges may be incurred upon execution of collaborations, licensing agreements, and other asset acquisitions, Lilly does not forecast acquired IPR&D charges due to the uncertainty of the future occurrence, magnitude, and timing of these transactions in any given period,” the company stated.