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22 Apr 2011

Financial Report: Lilly 1Q11

Eli Lilly & Co.'s first-quarter earnings fell 15% while the pharmaceutical company's revenue rose 6%.

Drugmaker Eli Lilly released a healthy revenue gain in the first quarter and beat stock analysts' predictions on its earnings.


Total revenue in the U.S. was $3.1 billion (+1%) primarily due to higher prices, partially offset by lower volume. Revenue outside the U.S. was up 13% to $2.8 billion due to increased volume and the positive impact of foreign exchange. Revenue in the quarter was down $90 million due to the impact of U.S. healthcare reform. Zyprexa sales were up 6% to $1.3 billion. Cymbalta sales were up 13% to $908.8 million. Alimta sales were up 10% to $579.9 million. Gemzar sales dropped 46% due to the impact of generic competition. The company incurred restructuring charges of $76.3 million in the quarter, as well as a $388.0 million in-process R&D charge associated with the Boehringer In

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