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Friday, November 13, 2009
Fitch Cuts Its Outlook On Eli Lilly To Negative
By MarketWatch
MarketWatch Pulse
NEW YORK -- Fitch Ratings has changed its rating outlook Friday on Eli Lilly & Co. to negative from stable, which applies to about $6.77 billion of outstanding debt. Fitch said the move reflects its "uncertainty of Eli Lilly's ability to counter its exposure to key drug patent expiry in the period between 2010 and 2013, which includes the potential loss of market exclusivity for three of five top-selling medicines." Among other actions, Fitch also affirmed Lilly's issuer default rating at A+.
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