World News | January 28, 2011 Kevin Grogan
Eli Lilly has posted a strong set of figures for the fourth quarter, with the antidepressant/fibromyalgia blockbuster Cymbalta and the lung cancer drug Alimta once again driving sales.
Net income reached $1.17 billion, up 28% and ahead of analyst forecasts, while sales reached $6.19 billion, a rise of 2%. Lilly noted that revenues were reduced by $70 million due to the impact of US health care reform.The most striking performances came from Cymbalta (duloxetine), up 19% to $984.6 million and the lung cancer drug Alimta (pemetrexed) which increased 9% to $569.0 million. Lilly’s best-selling drug continues to be the antipsychotic Zyprexa (olanzapine), which had turnover of $1.34 billion, a dip of 2% but up 4% to $669.3 million in the USA, a rise driven by higher prices.John Lechleiter, Lilly's chief executive, said the results "capped a year of solid financial performance in which we achieved volume-driven revenue growth along with good expense control". He added that "we remain committed to our strategy of accelerating the flow of potential new medicines through our pipeline and are prepared to meet the challenges of patent expirations for several of our products".
For 2011, earnings per share are forecast to reach $3.92-$4.07, including the impact of US healthcare reform of $400-$500 million for the year.
http://www.pharmatimes.com/Article/11-01-28/Lilly_earnings_soar_and_beat_analyst_forecasts.aspx
Net income reached $1.17 billion, up 28% and ahead of analyst forecasts, while sales reached $6.19 billion, a rise of 2%. Lilly noted that revenues were reduced by $70 million due to the impact of US health care reform.The most striking performances came from Cymbalta (duloxetine), up 19% to $984.6 million and the lung cancer drug Alimta (pemetrexed) which increased 9% to $569.0 million. Lilly’s best-selling drug continues to be the antipsychotic Zyprexa (olanzapine), which had turnover of $1.34 billion, a dip of 2% but up 4% to $669.3 million in the USA, a rise driven by higher prices.John Lechleiter, Lilly's chief executive, said the results "capped a year of solid financial performance in which we achieved volume-driven revenue growth along with good expense control". He added that "we remain committed to our strategy of accelerating the flow of potential new medicines through our pipeline and are prepared to meet the challenges of patent expirations for several of our products".
For 2011, earnings per share are forecast to reach $3.92-$4.07, including the impact of US healthcare reform of $400-$500 million for the year.
http://www.pharmatimes.com/Article/11-01-28/Lilly_earnings_soar_and_beat_analyst_forecasts.aspx
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