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Financial Report: Lilly

Cymbalta expiration begins to weigh down sales

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Lilly 4Q13

4Q Revenues: $5.8 billion (-2%)

4Q Earnings: $728 million (-12%)

FY Revenues: $23.1 billion (+2%)

FY Earnings: $4.7 billion (+15%)

Comments: The U.S. patent for Cymbalta expired on Dec. 11, 2013, leading U.S. pharma revenues to fall 6% in 4Q13 to $3.0 billion. Cymbalta revenues dropped 38% in 4Q13 to $883 million, while sales in FY13 rose 2% to $5.1 billion. Zyprexa sales dropped 10% in 4Q13 to $348 million and fell 30% in FY13 to $1.2 billion. Humalog posted 19% growth in 4Q13 to $734 million, while Cialis rose 15% to $588 million during the quarter, both due to a mix of higher prices and increased volume. Net earnings fell 12% in 4Q13 as a result of lower operating income and a higher effective tax rate.

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