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Financial Report: Lilly 2Q11

Revenue growth helps offset generic competition; restructuring costs hit earnings.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly 2Q11

2Q Revenues: $6.3 billion (+9%)

2Q Earnings: $1.2 billion (-11%)

YTD Revenues: $12.1 billion (+8%)

YTD Earnings: $2.3 billion (-13%)

Comments: Revenue growth comprised a 5% increase in sales and 4% from the impact of foreign exchange. Zyprexa sales were up 12% to $1.4 billion. Cymbalta sales were $1.0 billion, up 16%. Alimta sales were $613.4 million (+11%). Humalog sales were $586.9 million (+16%). Cialis sales were up 14% to $477.2 million. Humulin sales were up 18% to $311.8 million. Gemzar sales dropped 62% to $112.4 million due to generic competition. R&D costs were up 6% to $1.3 billion in the quarter. The company recognized a charge of $132.3 million in the quarter for restructuring related to severance costs.

 

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