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Financial Reports: Eli Lilly & Co.

Higher prices help offset Zyprexa losses

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly 1Q13

1Q Revenues: $5.6 billion (flat)

1Q: Earnings: $1.5 billion (+56%)

Comments: Zyprexa revenues fell 49% to $285 million, offset by gains in Cymbalta (+19% to $1.3 billion), Cialis (+11% to $515 million), Humalog (+7% to $633 million). Earnings for 1Q13 include $495 million for the transfer of Byetta’s rights back to Amylin; without that, earnings would have been up slightly. Pharma revenues in the U.S. rose 2% to $3.1 billion, mainly due to price increases. Lilly took a $21.7 million charge in the quarter for severance and restructuring costs.

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