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John Lechleiter

Eli Lilly Projects In-Line '14 Profit Slump

Mirroring forecasts from analysts, Eli Lilly (NYSE:LLY) projected a steep drop in 2014 revenue and earnings on Tuesday as the drug giant continues to grapple with the loss of exclusivity on major treatments.The pharmaceutical company also reaffirmed its 2013 earnings projections and its strategy to return to growth in 2015.Lilly projected 2014 non-GAAP EPS of $2.77 to $2.85 on revenue of $19.2 billion to $19.8 billion. By comparison, analysts had been calling for EPS of $2.78 on sales of $19.55 billion.Citing the U.S. patent expiration of Cymbalta last month and Evista in March, Lilly Chief Financial Officer Derica Rice said the company believes 2014 will be "the most financially challenging year" of the current period. "We are prepared for this challenge and are positioned to return to growth and expand margins in 2015 and beyond," Rice said.As it looks to get back on track, Lilly emphasized efforts to advance its drug pipeline. The company said it has 13 potential new medicines in Ph...

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  1. Eli Lilly Forecasts Stronger 2013

    Eli Lilly (NYSE:LLY) reaffirmed its in-line fiscal 2012 guidance on Friday and unveiled an upbeat outlook for the following year.The company also said it continues t...

  2. Eli Lilly to Expand Insulin-Manufacturing Facilities

    Eli Lilly & Co. (LLY) plans to expand its Indianapolis insulin-manufacturing facilities in a multimillion-dollar investment to meet growing demand in the U.S.This ma...

  3. Eli Lilly Alzheimer's Drug Fails in Late-Stage Trial

    Eli Lilly (NYSE:LLY) said on Friday that its experimental treatment for Alzheimer's disease failed to meet two late-stage studies' primary goals, however the drug gi...

  4. Lilly's Alzheimer Shows Promise; Misses Goals

    Eli Lilly & Co. (LLY) said solanezumab, a highly anticipated potential treatment for Alzheimer's disease, failed to reach its set goals in either of two Phase 3 stud...

  5. Bristol-Myers, Lilly Remain Optimistic Despite Patent Woes

    Two major U.S. drug companies took big hits to quarterly profits and sales because patent expirations for their top products cleared the way for generic competition....

  6. Bristol-Myers, Lilly 2Q Sales Drop Amid Patent Expirations

    Bristol-Myers Squibb (NYSE:BMY) and Eli Lilly (NYSE:LLY) both reported weaker quarterly earnings and sales on Wednesday as they struggled to stem losses from patent ...

  7. Eli Lilly 2nd-Quarter Net Falls 23% as Zyprexa Sales Drop; Raises Year View

    Eli Lilly & Co. (LLY) said its second-quarter profit declined 23%, as the drug maker continues to feel the effects of the recent patent expiration for antipsychotic ...

  8. Eli Lilly to Complete Decade-Old Buyback Program

    Shares of Eli Lilly (NYSE:LLY) touched a new high Tuesday morning after the company said it would resume share buybacks after a multi-year hiatus and finally complet...

  9. 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 los...

  10. 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...

  11. 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.

  12. 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...

  1. The 'Accidental CEO': Eli Lilly's John Lechleiter

    When he began his career as a senior organic chemist in 1979, John Lechleiter had a passion for science -- chemistry was his first love -- and a desire to work in th...

  2. John Lechleiter : The ‘Accidental’ CEO

    Given the option between scientist or manager, Eli Lilly’s chief always thought he’d pick the former. But a rare opportunity propelled him to the C-suite.

  3. Eli Lilly Warns of '14 Revenue Headwinds

    Eli Lilly (NYSE:LLY) warned it may miss its 2014 revenue target due to foreign-exchange and emerging market headwinds, but the drug maker also unveiled a $5 billion ...

  4. Eli Lilly CEO Returns to Post After Heart Surgery

    Eli Lilly's (NYSE:LLY) longtime CEO John Lechleiter returned to his post as chief executive on Monday after a nearly two-month medical leave as he recovered from sch...

  5. Lilly CEO to undergo surgery, CFO Rice to become interim CEO

    Eli Lilly & Co's longtime Chief Executive John Lechleiter will undergo surgery next Monday for a dilated aorta, but is expected to make a full recovery from the pote...

  6. Lilly CEO Lechleiter to undergo surgery for dilated aorta

    Drug maker Eli Lilly and Co said Chief Executive John Lechleiter will undergo a surgery on May 13 to treat a dilated aorta but is expected to recover and return to w...

  7. Lilly's 4Q Profit Falls on Generic Competition

    Eli Lilly (NYSE:LLY) revealed a 4% decline in fourth-quarter profit due to ongoing effects of the so-called "patent cliff," but still topped Wall Street expectations...

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