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Financial Report: Lilly

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Lilly

4Q Revenues: $4.2 billion (+9%)

4Q Earnings: $132.3 million (earnings were $700.6 million 4Q2005)

FY Revenues: $15.7 billion (+7%)

FY Earnings: $2.7 billion (+35%)

Comments: In the quarter, Alimta, Byetta, Cialis, Cymbalta, Forteo, Strattera, Symbyax, Xigris and Yentreve, collectively grew 41% to $1.1 billion and accounted for 26% of total sales, up from 20% of sales in 4Q2005. For the year these product sales grew 47% to $3.8 billion and accounted for 24% of total sales, compared with 18% in FY2005. Zyprexa sales in the quarter were $1.2 billion, up 12% and $4.4 billion for the year, up 4%. In the quarter, the company incurred a charge of $450.3 million related to the closing of its manufacturing facility in Basingstoke, England and its R&D sites in Belgium and Germany, as well as the decision to stop construction of an insulin manufacturing facility in Prince William County, VA. In the quarter, the company completed the acquisition of ICOS Corp. at a cost of approximately $2.3 billion. FY2006 results were affected by earnings reconciliation involving the elimination of product liability charges related to Zyprexa and the elimination of certain asset impairments and restructuring charges.

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