Third-quarter 2011 revenue grew 9 percent to $6.148 billion due to increased demand for several key brands and favorable exchange rates.Revenue for Cymbalta, Humalog, Forteo, Strattera, Cialis and Alimta all grew in double-digits, with strong growth also seen in animal health, Japan and China.Q3 operating expense growth was driven primarily by marketing efforts to support new launches, investments in research and development, and exchange rates.Clinical pipeline now contains 66 potential new medicines, including 10 in Phase III.Company delivered third quarter earnings per share of $1.11 (reported), or $1.13 (non-GAAP).2011 earnings per share guidance range revised to $3.89 - $3.94 (reported), or $4.30 ? $4.35 (non-GAAP).
"In the third quarter Lilly continued to drive
revenue growth for many key brands, including Cymbalta, Humalog, Forteo and
Strattera, with strong growth also seen in animal health, Japan and China. This
growth offset the continued erosion of Gemzar sales due to generic
competition," said John C. Lechleiter, Ph.D., Lilly's chairman, president
and chief executive officer. "As we face the loss of patent exclusivity
for Zyprexa in most major markets, we are well-prepared as a company to meet
the challenges before us. We remain committed to our innovation-based strategy
and are focused on delivering the next wave of new medicines to patients in the
coming years."
As previously announced, investors and the general public
can access a live webcast of the third-quarter 2011 financial results
conference call through a link on Lilly's website at www.investor.lilly.com. The conference
call will be available for replay via the website through November 18,
2011.
Lily Worldwide Employees now number 38,380.
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