Financial Report: Lilly 1Q08

Lilly 

1Q Revenues: $4.8 billion (+14%)

1Q Earnings: $1.1 billion (+109%)

Comments: Alimta, Byetta, Cialis, Cymbalta, Forteo, Strattera, Symbyax, Xigris and Yentreve collectively grew 33% to $1.7 billion, and accounted for 35% of total sales. Cymbalta sales were $605.1 million (+37%). Cialis sales were up 74% to $336.9 million. Alimta sales were $247.2 million (+32%). Zyprexa sales were $1.1 billion (+1%). R&D expenses were  $877.1 million (+5%). In the quarter, the company terminated development of its AIR Insulin program with partner Alkermes. The FDA accepted and gave priority review status to the company’s NDA for prasugrel as a treatment for patients with acute coronary syndrome being managed with percutaneous coronary intervention. 1Q07 earnings were impacted by in-process R&D expenses associated with the ICOS acquisition.