INdiana Systemic Thinking

January 29, 2008

Zyprexa, Cymbalta Fuel Growth for Lilly

From the Indianapolis Star:

Driven by solid sales of its antidepressant Cymbalta, Indianapolis drugmaker Eli Lilly and Co. today said fourth-quarter profits grew to $854.4 million and 78 cents per share, beating many analysts’ estimates.

Earnings jumped six-fold from the same period in 2006, when Lilly recorded income of $132.3 million and 12 cents per share as it took a big charge to settle claims with patients who said they were harmed by Lilly’s Zyprexa schizophrenia drug.

But showing how little harmed it was by that publicity, Lilly said Zyprexa sales were again No. 1 in its sales lineup, accounting for $1.27 billion. Cymbalta was next up with $628.3 million. Overall, its sales increased 16 percent to $5.19 billion.

“Lilly completed a very successful year by continuing to deliver strong financial results to our shareholders in the fourth quarter,” said CEO and chairman Sidney Taurel. “Our additional investment in sales and marketing helped fuel accelerated double-digit sales growth.”

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January 26, 2008

Lilly’s Cymbalta Sales Grow

From a Bloomberg report, via the Indianapolis Star
INDIANAPOLIS — Eli Lilly and Co.‘s antidepressant Cymbalta exceeded $2 billion in global saleslast year, Chief Executive Officer Sidney Taurel said. That would represent at least a 52 percent increase from the $1.32 billion reported in 2006, when Cymbalta was Lilly’s third-best-selling product globally. The drug is intended to replace revenue lost to generic competitors for the antipsychotic Zyprexa, Lilly’s top-selling drug, when it loses patent protection in 2011. “Cymbalta is growing very, very fast,” Taurel said Friday in Davos, Switzerland, where he is attending the World Economic Forum. “It will be bigger than Zyprexa before Zyprexa loses its patent.” (Bloomberg)

The Blogmeister agrees with Mr. Taurel.  They just keep finding new uses for this drug.  I recently heard some physicians have found it very useful in the treatment of pain managment.  New uses equal more prescriptions which equal more sales.

December 20, 2007

Change at Lilly

Drug giant Eli Lilly and Company have announced:

Sidney Taurel will retire as chief executive on March 31 after nearly a decade in the post, and plans to step down as chairman at the end of 2008.

President and Chief Operating Officer John C. Lechleiter was named to take over as CEO on April 1.

Lechleiter, 54, joined Lilly in 1979. He will continue as president besides his new role of CEO. He studied organic chemistry at Harvard, where he received a master’s degree and a doctorate.

The new CEO comes “highly regarded” by Wall Street, according to Funtleyder. But the analyst added that Lechleiter’s reputation only helps so much.

“Ultimately, a lot of Lilly’s fate lies in the hands of its scientists to bring out new drugs,” he said. “Lechleiter could put together a good strategy, but they still need to bolster that pipeline somehow.”

He said he wants to hear more about the new CEO’s plans.

“They have the same problems as other pharma companies, they need to develop new drugs, and they need to defend their existing products,” he said. “I mean its been difficult for many.”

Taurel joined Lilly in 1971 as a marketing associate. He then served as the general manager of a Lilly affiliate in Brazil and as the London-based vice president of Lilly’s European operations.

He later became an executive vice president of the company and president of the pharmaceutical division. In 1996, he was promoted to president and chief operating officer.

“I am grateful to have spent nearly 37 years with this great company, and deeply honored to have had the opportunity to lead it for the last 10,” Taurel said in a statement. “John has been preparing for his new role as my successor for several years, and 2008 is the right time for him to assume his place as the leader of the company.”

The entire article is here.

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