Eli Lilly sees Q1 pre-tax IPR&D charges of roughly $111M

Eli Lilly said it currently expects that its reported financial results calculated in accordance with U.S. generally accepted accounting principles and its non-GAAP financial results for the first quarter of 2024 will include acquired IPR&D charges of approximately $111M on a pre-tax basis, representing a charge of approximately 10c to both GAAP and non-GAAP earnings per share. Lilly’s results for the quarter ended March 31, 2024, 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.