Financial Report: Lilly 1Q11

Lilly 1Q11

1Q Revenues: $5.8 billion (+6%)

1Q Earnings: $1.1 billion (-15%)

Comments: Total revenue in the U.S. was $3.1 billion (+1%) primarily due to higher prices, partially offset by lower volume. Revenue outside the U.S. was up 13% to $2.8 billion due to increased volume and the positive impact of foreign exchange. Revenue in the quarter was down $90 million due to the impact of U.S. healthcare reform. Zyprexa sales were up 6% to $1.3 billion. Cymbalta sales were up 13% to $908.8 million. Alimta sales were up 10% to $579.9 million. Gemzar sales dropped 46% due to the impact of generic competition. The company incurred restructuring charges of $76.3 million in the quarter, as well as a $388.0 million in-process R&D charge associated with the Boehringer Ingelheim diabetes collaboration.