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Wednesday, April 7, 2010 as of 11:14 AM ET

John Lechleiter

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Lilly 1Q Profit Narrows, But Beats on Cymbalta Demand

Eli Lilly (NYSE:LLY) revealed on Wednesday a 25% drop in first-quarter net income, excluding one-time items, as sales of schizophrenia drug Zyprexa plunged after losing patent exclusivity, causing worldwide sales to dip.

However, the results handily topped Wall Street expectations on strong sales of anti-depression drug Cymbalta, leading the company to lift its fiscal earnings view and back its sales guidance.Lilly raised its fiscal 2012 profit view to a range of $3.15 to $3.30 a share, excluding items, up from a January forecast between $3.10 and $3.20 a share. Analysts are looking for per-share earnings of $3.18.The drug maker sees full-year revenue between $21.8 billion and $22.8 billion, in line with Wall Street's $22.4 billion guidance.The Indianapolis pharmaceutical giant reported a profit in its latest quarter of $1.01 billion, or 91 cents a share, compared with a year-earlier $1.06 billion, or 95 cents. Excluding one time items, Lilly earned 92 cents, ahead of average analyst es...

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  1. President Obama Signs Patent Reform Bill Into Law

    President Barack Obama signed into law a patent overhaul bill Friday that backers say will curb frivolous lawsuits and help the U.S. Patent and Trademark Office do t...

  2. Eli Lilly 2Q Profit Sinks on Rival Generics

    Eli Lilly (NYSE:LLY) said on Thursday that its second-quarter profit slipped about 21% on higher costs and increased generic competition for its Gemzar cancer medici...

  3. Eli Lilly CEO: Government Threatening Drug Innovation

    Eli Lilly CEO John Lechleiter on the growing impact of government regulation on the health care and pharmaceutical industries.

  4. Research cuts may haunt Pfizer, ex-R&D chief says

    By Lewis KrauskopfNEW YORK (Reuters) - Pfizer Inc <PFE.N> may have won over shareholders with its recent decision to pare back research and development spending but ...

  5. Lilly protects research budget as generics loom

    By Ransdell Pierson and Lewis KrauskopfNEW YORK (Reuters) - Eli Lilly and Co <LLY.N> is again defying the accepted wisdom of its pharmaceutical industry peers.While ...

  6. Exclusive: Lilly CEO defends R&D spending

    By Ransdell PiersonWASHINGTON (Reuters) - Eli Lilly and Co <LLY.N> is committed to spending what it takes to come up with innovative drugs over the long term, its ch...

  7. Eli Lilly 4Q Profit Jumps 28% On Better Revenue, Margins

    Eli Lilly & Co.'s (LLY) fourth-quarter earnings rose 28%, as higher sales of an antidepressant and a cancer drug helped lift overall revenue.The Indianapolis-based d...

  8. Eli Lilly to Buy Philadelphia Drugmaker for $800M

    Pharmaceutical company Eli Lilly (NYSE:LLY) said it had reached an agreement to purchase privately-held experimental neurological drug maker Avid Radiopharmaceutical...

  9. Eli Lilly Buys Disease Diagnosis Developer Avid for $300M

    Pharmaceutical company Eli Lilly (NYSE:LLY) said it has agreed to buy privately-held experimental neurological drug maker Avid Radiopharmaceuticals for up to $800 mi...

  10. Eli Lilly CEO on New Drugs in Pipeline

    John Lechleiter , chairman and CEO of Eli Lilly, on the potential benefits of the new drugs the company is creating.

  11. Eli Lilly and Covance CEOs Positive About Reform

    Eli Lilly CEO John Lechleiter and Covance CEO Joe Herring on the impact of health-care reform to their companies as well as the sector as a whole.

  12. Pharma Giants Covance and Eli Lilly on Partnership

    Eli Lilly CEO John Lechleiter and Covance CEO Joe Herring on the benefits of their strategic alliance.

  1. Drug Executives Tout R&D Spending As Industry Hits Patent Cliff

    Drug-industry executives touted on Thursday the investments they are making to discover new products in the face of a so-called patent cliff that will dramatically c...

  2. Eli Lilly CEO on Drug Innovation, Corporate Taxes

    Eli Lilly CEO John Lechleiter on new drugs in the company’s pipeline and Obama’s corporate tax proposal.

  3. Patent Losses Hit Pfizer, Lilly As Both Await Alzheimer's Drug Data

    Drug makers Pfizer Inc. (PFE) and Eli Lilly & Co. (LLY) fell off the so-called "patent cliff," each reporting declines in fourth-quarter profits due to new generic c...

  4. Lilly 4Q Profit Slips on Generics, But Still Beats

    Eli Lilly (NYSE:LLY) said its fourth-quarter profit fell 27% on patent expirations but still beat Wall Street expectations, as the company tightened costs and grew i...

  5. Lilly 4Q Net Drops 27% As Zyprexa Sales Drop 44%

    Eli Lilly & Co. (LLY) reported a 27% decline in fourth-quarter profit, as sales of antipsychotic Zyprexa took a big hit from new generic competition.The Indianapolis...

  6. Eli Lilly Predicts Profit Plunge in '12

    Eli Lilly (NYSE:LLY) on Thursday predicted a sharp drop in fiscal 2012 results when a number of its largest products are expected to lose patent exclusivity.The Indi...

  7. Eli Lilly Q3 Net Profit Drops 5%; Sales Rise 9%

    Eli Lilly (NYSE:LLY) disclosed a 5% decrease in third-quarter profits amid higher costs on Thursday, but the big drug maker’s non-GAAP earnings met Wall Street’s exp...

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