Financial Report: Lilly 1Q

Lilly 1Q

1Q Revenues: $5.5 billion (+9%)

1Q Earnings: $1.2 billion (-5%)

Comments:Total revenue in the U.S. was up 6% to $3.0 billion and outside the U.S. increased 13% to $2.5 billion. Zyprexa sales were $1.2 billion (+8%). Cymbalta sales were $803.2 million (+13%). Alimta sales were $527.4 million (+57%). Humalog sales were up 12% to $506.4 million. Cialis sales were $408.3 million (+14%). Gemzar sales were down 22% to $287.8 million, due to the entry of generic competition in some markets. Total revenue for the quarter includes $115.7 million of Byetta revenue and $92.4 million of Erbitux revenue. R&D expenses were $1.0 billion, or 19% of total revenue. In the quarter, the company recognized a charge of $50.0 million related to acquired in-process R&D associated with the in-licensing agreement with Acrux Ltd., and a charge of $26.2 million for restructuring costs.