Lilly Reports Third-Quarter 2011 Results

By Admin

Date → Friday, October 21, 2011

Eli Lilly and Company (NYSE: LLY) today announced financial results for the third quarter of 2011.

Third-quarter2011 revenue grew 9 percent to $6.148 billion due to increased demand forseveral key brands and favorable exchange rates.Revenue for Cymbalta, Humalog,Forteo, Strattera, Cialis and Alimta all grew in double-digits, with stronggrowth also seen in animal health, Japan and China.Q3 operating expense growthwas driven primarily by marketing efforts to support new launches, investmentsin research and development, and exchange rates.Clinical pipeline now contains66 potential new medicines, including 10 in Phase III.Company delivered thirdquarter earnings per share of $1.11 (reported), or $1.13 (non-GAAP).2011earnings per share guidance range revised to $3.89 - $3.94 (reported), or $4.30? $4.35 (non-GAAP).

"In the third quarter Lilly continued to driverevenue growth for many key brands, including Cymbalta, Humalog, Forteo andStrattera, with strong growth also seen in animal health, Japan and China. Thisgrowth offset the continued erosion of Gemzar sales due to genericcompetition," said John C. Lechleiter, Ph.D., Lilly's chairman, presidentand chief executive officer. "As we face the loss of patent exclusivityfor Zyprexa in most major markets, we are well-prepared as a company to meetthe challenges before us. We remain committed to our innovation-based strategyand are focused on delivering the next wave of new medicines to patients in thecoming years."

As previously announced, investors and the general publiccan access a live webcast of the third-quarter 2011 financial resultsconference call through a link on Lilly's website at www.investor.lilly.com. The conferencecall will be available for replay via the website through November 18,2011.

Lily Worldwide Employees now number 38,380.