Investors with a lot of money to spend have taken a bullish stance on Eli Lilly (NYSE:LLY).And retail traders should know.We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.So how do we know what these investors just did? Today, Benzinga's options scanner spotted 56 ...

Core Insights - AbbVie (ABBV) maintains a strong position in the immunology market, bolstered by robust sales of its new drugs, Rinvoq and Skyrizi, which are compensating for the decline in Humira's sales due to patent expiration and biosimilar competition [1][5] Group 1: Product Performance - Rinvoq has shown impressive sales across all approved indications, particularly in inflammatory bowel diseases like ulcerative colitis and Crohn's disease, with potential approvals for five new indications expected to enhance sales further [2][5] - In the first half of 2025, Rinvoq generated sales of $3.7 billion, marking a 49% year-over-year increase, and is projected to reach approximately $8 billion for the full year [5][9] - Positive results from the pivotal phase III UP-AA clinical program for Rinvoq in treating severe alopecia areata were reported, with 45.2% and 55% of patients achieving significant hair coverage at different dosages, compared to only 1.5% with placebo [3][9] Group 2: Regulatory and Future Prospects - AbbVie plans to submit a regulatory application for Rinvoq for alopecia areata in late 2025, with additional phase III data for vitiligo expected in the same year [4] - The anticipated approvals for Rinvoq in new indications could potentially add around $2 billion to peak-year sales [5] Group 3: Competitive Landscape - The market for alopecia areata treatments is highly competitive, with established players like Eli Lilly and Incyte's Olumiant, which generated $475.2 million in sales in the first half of 2025 [6] - Pfizer's Litfulo, approved for alopecia areata, is also in late-stage development for vitiligo, indicating increasing competition in the market [7] Group 4: Financial Performance and Valuation - AbbVie shares have increased by 17.9% year-to-date, contrasting with a 1.6% decline in the industry [8] - AbbVie is trading at a premium valuation, with a price/earnings (P/E) ratio of 15.54, above the industry average of 14.64 and its five-year mean of 12.69 [10] - The Zacks Consensus Estimate for AbbVie's 2025 earnings has slightly decreased from $12.03 to $12.02 per share, while the estimate for 2026 has risen from $14.08 to $14.31 [11]

Core Viewpoint - Eli Lilly and Company (LLY) is set to report its second-quarter earnings on August 7, with sales and earnings estimates at $14.75 billion and $5.61 per share respectively. Earnings estimates for 2025 have increased slightly from $21.92 to $22.05 per share over the past month [1][6]. Group 1: Earnings Performance - LLY has had a mixed earnings surprise history, exceeding expectations in two of the last four quarters and missing in the other two, with an average surprise of 6.69% [3]. - The last reported quarter saw a negative earnings surprise of 5.11% [3][4]. Group 2: Factors Influencing Upcoming Results - The anticipated growth in LLY's second-quarter results is expected to be driven by strong demand for its GLP-1 drugs, particularly diabetes drug Mounjaro and weight loss medicine Zepbound [6][7]. - Sales of Mounjaro and Zepbound are projected at $4.58 billion and $3.1 billion respectively, with LLY's own estimates slightly lower at $4.46 billion and $3.09 billion [9]. - Increased demand for other key drugs like Emgality, Jardiance, Olumiant, Taltz, and Verzenio is also expected to support top-line growth, despite pricing pressures and competitive dynamics [10][12]. Group 3: Competitive Landscape and Market Dynamics - LLY faces significant competition in the GLP-1 market, particularly from Novo Nordisk's semaglutide products, which could impact Mounjaro and Zepbound's market share [25][26]. - The company is diversifying its pipeline beyond GLP-1 drugs, with recent acquisitions aimed at expanding into cardiovascular, oncology, and neuroscience areas [23][24]. Group 4: Stock Performance and Valuation - LLY's stock has decreased by 0.9% year-to-date, compared to a 3.3% decline in the industry [15]. - Despite a premium valuation, the company is recommended for retention due to its robust growth prospects and position as a leading drugmaker [27].

Core Insights - Incyte Corporation reported strong second-quarter 2025 results, with adjusted earnings of $1.57 per share, surpassing the Zacks Consensus Estimate of $1.39, and a significant improvement from an adjusted loss of $1.82 per share in the same quarter last year [2][10] Financial Performance - Total revenues for the second quarter reached $1.22 billion, reflecting a 16% year-over-year growth, driven by the performance of Jakafi and Opzelura, and exceeding the Zacks Consensus Estimate of $1.15 billion [3][10] - Jakafi sales amounted to $763.8 million, an 8% increase from the previous year, beating the Zacks Consensus Estimate of $744.1 million [4][10] - Opzelura cream generated $164.5 million in sales, a 35% year-over-year increase, surpassing the Zacks Consensus Estimate of $148.6 million [5][10] - Newly approved Zynyz generated $8.9 million in sales, significantly up from the previous year and exceeding the Zacks Consensus Estimate of $2.7 million [6] - Iclusig sales were $32.7 million, up 22% year over year, beating the Zacks Consensus Estimate of $29 million [6] - Pemazyre sales reached $22.2 million, reflecting a 9% increase and surpassing the Zacks Consensus Estimate of $20.2 million [6] - Minjuvi's revenues were $31.1 million, flat year over year, missing the Zacks Consensus Estimate of $34.3 million [7] - Axatilimab-csfr (Niktimvo) recorded $36.2 million in sales in its second quarter post-launch [8] Guidance and Future Outlook - The company raised its 2025 guidance for Jakafi revenues to a range of $3-$3.05 billion, up from the previous estimate of $2.95-$3 billion, while maintaining Opzelura's guidance at $630-$670 million [10][18] - Adjusted R&D expenses are now expected to be between $1.82-$1.84 billion, an increase from the prior guidance of $1.78-$1.81 billion [18] - Adjusted SG&A expenses are projected to be in the range of $1.16-$1.19 billion [18] Market Performance - Incyte's shares have increased by 1.6% year to date, outperforming the industry growth of 0.6% [9]

Core Insights - Incyte reported $1.22 billion in revenue for Q2 2025, a 16.5% year-over-year increase, with an EPS of $1.57 compared to -$1.82 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1] - The company’s revenue and EPS surprises were +5.56% and +12.95% respectively, indicating stronger performance than analysts anticipated [1] Revenue Breakdown - Product royalty revenues reached $151.12 million, surpassing the estimated $145.98 million, reflecting a 10.2% increase year-over-year [4] - Net product revenues for Iclusig were $32.73 million, exceeding the $28.99 million estimate, marking a 21.8% year-over-year growth [4] - Total net product revenues amounted to $1.06 billion, above the $985.29 million estimate, showing a 16.9% increase year-over-year [4] - Net product revenues for Pemazyre were $22.19 million, compared to the $20.24 million estimate, representing a 9.5% year-over-year change [4] - Net product revenues for Minjuvi/Monjuvi were $31.13 million, slightly below the $34.25 million estimate, with a minimal year-over-year change of 0.1% [4] - Net product revenues for Opzelura reached $164.5 million, exceeding the $148.56 million estimate, reflecting a significant 35.2% year-over-year increase [4] - Net product revenues for Jakafi were $763.79 million, surpassing the $744.1 million estimate, with an 8.2% year-over-year growth [4] - Net product revenues for Zynyz were $8.92 million, significantly above the $2.73 million estimate, indicating a remarkable 1270.4% year-over-year increase [4] - Royalty revenues for Olumiant were $33.48 million, slightly below the $33.57 million estimate, with a 5.6% year-over-year increase [4] - Royalty revenues for Tabrecta were $6.63 million, below the $6.88 million estimate, reflecting a 25.2% year-over-year increase [4] - Royalty revenues for Jakavi were $109.71 million, exceeding the $103.35 million estimate, with a 10.5% year-over-year change [4] - Net product revenues for Niktimvo were $36.15 million, significantly above the $20.33 million estimate [4] Stock Performance - Incyte's shares returned +3% over the past month, compared to the Zacks S&P 500 composite's +3.6% change, indicating a performance in line with the broader market [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the market in the near term [3]

Core Viewpoint - Eli Lilly and Company reported mixed first-quarter 2025 results, missing earnings estimates but exceeding revenue expectations, driven by strong sales of its diabetes and weight loss medications [1][2][13]. Financial Performance - Adjusted EPS for Q1 2025 was $3.34, missing the Zacks Consensus Estimate of $3.52, but representing a 29% year-over-year increase [1]. - Total revenues reached $12.73 billion, a 45% increase year-over-year, surpassing the Zacks Consensus Estimate of $12.62 billion [2]. Key Drug Sales - Mounjaro sales were $3.84 billion, up 113% year-over-year, exceeding the Zacks Consensus Estimate of $3.75 billion [3]. - Zepbound generated $2.31 billion in sales, compared to $1.91 billion in the previous quarter, beating the Zacks Consensus Estimate of $2.27 billion [4]. - Trulicity sales fell 25% year-over-year to $1.1 billion, aligning with the Zacks Consensus Estimate [6]. - Jardiance sales increased 48% to $1.01 billion, significantly surpassing the Zacks Consensus Estimate of $675 million [7]. - Taltz generated $761.9 million, up 30% year-over-year, beating the Zacks Consensus Estimate of $663 million [7]. - Verzenio sales were $1.16 billion, a 10% increase year-over-year, but missed the Zacks Consensus Estimate of $1.25 billion [8]. - Emgality revenues dropped 45% to $124.6 million, while Olumiant sales rose 5% to $228.7 million [9]. Guidance and Market Position - The company maintained its 2025 revenue guidance of $58.0 billion to $61.0 billion, indicating a 32% year-over-year growth, but lowered EPS guidance to $20.78 to $22.28 [11][12]. - Competition from Novo Nordisk's semaglutide products is significant, with expectations of strong revenue growth for Novo's offerings [5][16]. - Lilly is investing in obesity treatments and has new molecules in clinical development, including a promising oral GLP-1 agonist [16][18]. Market Reaction - Despite strong sales, Lilly's shares fell nearly 5% in pre-market trading due to the EPS miss and lowered earnings guidance [14]. - CVS Caremark's decision to exclude Zepbound from its preferred drug list may impact sales [14]. - Lilly's stock has increased 16.7% year-to-date, outperforming the industry average of 3.5% [14].

Core Insights - Incyte reported $1.05 billion in revenue for Q1 2025, a 19.5% year-over-year increase, with an EPS of $1.16 compared to $0.64 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $1.01 billion by 4.66%, and the EPS also surpassed the consensus estimate of $1.01 by 14.85% [1] Revenue Performance - Net product revenues for Pemazyre were $18.44 million, below the average estimate of $21.62 million, representing a 4.3% year-over-year increase [4] - Total product revenues reached $922.27 million, exceeding the average estimate of $876.70 million, with a year-over-year change of 26.4% [4] - Iclusig generated $29.54 million in net product revenues, slightly above the average estimate of $28.67 million, but a 2.6% decrease year-over-year [4] - Minjuvi/Monjuvi reported $29.55 million, below the average estimate of $33.43 million, with a year-over-year increase of 23.8% [4] - Opzelura's net product revenues were $118.71 million, below the average estimate of $126.95 million, reflecting a 38.5% year-over-year increase [4] - Jakafi generated $709.41 million, surpassing the average estimate of $661.10 million, with a 24.1% year-over-year increase [4] - Zynyz reported $3.01 million, exceeding the average estimate of $1.92 million [4] Royalty Revenues - Jakavi's royalty revenues were $92.15 million, below the average estimate of $97.41 million, with a 2.9% year-over-year increase [4] - Total product royalty revenues reached $130.62 million, below the average estimate of $139.49 million, reflecting a 3.7% year-over-year increase [4] - Olumiant's royalty revenues were $30.80 million, below the average estimate of $34.90 million, with a 0.7% year-over-year change [4] - Tabrecta generated $6.41 million, exceeding the average estimate of $5.93 million, with a 22.5% year-over-year increase [4] Stock Performance - Incyte's shares returned -1.7% over the past month, compared to the S&P 500 composite's -0.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Eli Lilly and Company is set to report its first-quarter earnings on May 1, with sales and earnings estimates at $12.62 billion and $3.52 per share, respectively. However, earnings estimates for 2025 have seen a decline from $23.53 to $22.43 per share over the past month [1][4]. Earnings Performance - The company has had a mixed earnings performance, exceeding expectations in three of the last four quarters, with an average earnings surprise of 8.47% [2][3]. Earnings Estimates and Trends - Current earnings estimates for Q1, Q2, 2025, and 2026 are $3.52, $5.58, $22.43, and $31.15 per share, respectively. Notably, the earnings estimate for Q1 has decreased by 22.30% over the past month [1][4]. Factors Influencing Upcoming Results - Top-line growth in Q1 is expected to be driven by demand for FDA-approved tirzepatide medicines, specifically the diabetes drug Mounjaro and weight loss medicine Zepbound. However, sales of these drugs were below expectations in the latter half of 2024 due to slower growth and unfavorable channel dynamics [5][6]. Sales Estimates for Key Products - The Zacks Consensus Estimate for Mounjaro and Zepbound is $3.75 billion and $2.27 billion, respectively, while the company's estimates are $3.82 billion and $2.19 billion. Increased demand for other key growth drugs is also anticipated to support top-line growth [8][10]. Competitive Landscape - Sales of Trulicity are expected to decline due to competitive dynamics and lower realized prices in the U.S., with patient switches to Mounjaro impacting its performance [9][22]. The obesity market is becoming increasingly competitive, with several companies developing GLP-1-based candidates [23][24]. Stock Performance and Valuation - Lilly's stock has risen 14.8% year-to-date, outperforming the industry and the S&P 500 index. The stock is currently trading at a premium compared to the industry [13][16]. Investment Outlook - Despite challenges, including declining sales of key products and increasing competition, the company is viewed as having robust growth prospects, particularly with new product launches and expansions planned for 2025 [20][25].

Core Viewpoint - Eli Lilly and Company is set to report its first-quarter earnings on May 1, with sales and earnings estimates at $12.62 billion and $3.52 per share respectively, while earnings estimates for 2025 have seen a decline from $23.53 to $22.43 per share over the past month [1][4]. Earnings Performance - The company has exceeded earnings expectations in three of the last four quarters, with an average earnings surprise of 8.47% [2][3]. - The last reported quarter showed an earnings surprise of 5.77% [2]. Earnings Estimates and Trends - Current earnings estimates for Q1, Q2, 2025, and 2026 are $3.52, $5.58, $22.43, and $31.15 respectively, with a notable decline in Q1 estimates from $4.64 to $3.52 over the past 30 days, reflecting a -22.30% revision [1][4]. Factors Influencing Upcoming Results - Top-line growth in Q1 is expected to be driven by demand for FDA-approved tirzepatide medicines, specifically diabetes drug Mounjaro and weight loss medicine Zepbound [5]. - Sales of Mounjaro and Zepbound were below expectations in the latter half of 2024, attributed to slower growth and unfavorable channel dynamics [5][6]. - The FDA's approval of Zepbound for moderate-to-severe obstructive sleep apnea is anticipated to contribute positively to sales [7]. Sales Estimates for Key Products - The Zacks Consensus Estimate for Mounjaro and Zepbound is $3.75 billion and $2.27 billion respectively, while internal estimates are $3.82 billion and $2.19 billion [8]. - Sales estimates for other drugs include Trulicity at $1.11 billion, Taltz at $663 million, Verzenio at $1.25 billion, Jardiance at $675 million, Olumiant at $228 million, and Emgality at $220 million [10]. Competitive Landscape - Lilly faces competition in the diabetes and obesity market, particularly from Novo Nordisk's Wegovy, with several companies developing GLP-1-based candidates that could threaten market dominance [22][23]. - Despite competition, Lilly is investing in obesity treatments and has new molecules in clinical development, including a promising oral GLP-1 agonist [24]. Stock Performance and Valuation - Lilly's stock has increased by 14.8% this year, outperforming the industry average of 1.5% [13]. - The stock is currently trading at a premium compared to the industry [16]. Investment Outlook - Despite challenges, Lilly is viewed as a strong investment due to its robust growth prospects and position as a leading drugmaker [25].

Core Viewpoint - AbbVie has received marketing approval from the European Commission for its drug Rinvoq to treat giant cell arteritis (GCA), marking the eighth approved indication for this medication [1][4]. Group 1: Rinvoq Approval and Clinical Data - Rinvoq (15 mg, once daily) is the first JAK inhibitor approved in the EU for GCA and the first oral advanced therapy for this condition [2]. - The approval was based on the phase III SELECT-GCA study, which demonstrated that 46% of GCA patients treated with Rinvoq achieved sustained remission compared to 29% in the placebo group [3]. Group 2: Financial Performance and Market Impact - Rinvoq generated sales of nearly $6 billion in 2024, reflecting a year-over-year increase of 50.4% due to ongoing label expansions [6]. - Combined sales of Rinvoq and AbbVie's other drug Skyrizi reached $17.7 billion in 2024, with expectations to exceed $31 billion by 2027 driven by market growth and new indications [8][9]. Group 3: Competitive Landscape - Rinvoq and Skyrizi have shown strong performance against other novel therapies in clinical studies, providing a competitive advantage in the market [8]. - Other JAK inhibitors, such as Pfizer's Xeljanz and Lilly/Incyte's Olumiant, are also present in the market, with Olumiant generating sales of $957.4 million and Xeljanz $1.17 billion in 2024 [10][11].