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Financial Report: Lilly 4Q09

ImClone acquisition costs in the rear-view mirror, earnings returned to form

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly 4Q09

4Q Revenues: $5.9 billion (+14%)

4Q Earnings: $915.4 million (loss of $3.6 billion in 4Q08)

FY Revenues: $21.8 billion (+7%)

FY Earnings: $4.3 billion (loss of $2.1 billion in FY09)

Comments: Earnings in 4Q08 were affected by a $4.7 billion charge related to the ImClone acquisition. Lilly incurred charges of $692.7 million in FY09 for restructuring and Zyprexa litigation. Zyprexa sales rose 19% in 4Q09 to $1.4 billion and 5% in FY09 to $4.9 billion, with a 4Q09 international boost of 28%, due partly to currency rates and to the withdrawal of a generic competitor in Germany. Cymabalta was up 15% to $831 million in 4Q09 and 14% in FY09 to $3.1 billion. Alimta sales rose 64% in 4Q09 and 48% in FY09 to $523.6 million and $1.7 billion, respectively. R&D expenses rose 15% in 4Q09 to $1.2 billion and 13% in FY09 to $4.3 billion. The company had nearly the same number of employees at the end of FY09 as it did at the end of FY08: 40,360.

Read Lilly’s profile in our annual Top 20 Pharmaceutical Companies Report!

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