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Financial Report: Lilly

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly

1Q Revenues: $4.2 billion (+14%)

1Q Earnings: $508.7 million (-39%)

Comments: Alimta, Byetta, Cialis, Cymbalta, Forteo, Strattera, Symbyax, Xigris and Yentreve, collectively grew 57% to $1.3 billion, and accounted for 30% of total sales, compared with 22% of in 1Q2006. Earnings for the quarter were affected by in-process R&D charges associated with the ICOS acquisition and OSI in-licensing agreement and restructuring charges associated with “manufacturing decisions”; Lilly recently decided to close some European locations and halt construction of a plant in Virginia.

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