Here's one bright spot today: Eli Lilly predicts a big year in 2008, with 14 percent growth in net profits and seven billion-dollar-plus products. Higher sales of drugs for depression (Cymbalta [1]), diabetes (Byetta [2] and Humalog), cancer (Alimta), and ED (tadalafil) will account for much of that growth. Lilly also says it's hoping to launch pasugrel, its anti-clotting drug candidate designed to prevent recurrent heart attacks and strokes, in 2008.
In its latest forecast, the company also affirmed its 2007 expectations of $3.50 to $3.55 in earnings per share, excluding special charges. For 2008? It's predicting $3.85 to $4 per share, above analysts' previous expectations of $3.81 per share. The dark cloud in all this news, at least for Lilly's workforce, is that the earnings growth depends in part on increased productivity--and that includes an unspecified number job cuts.
- check out the release [3] from Eli Lilly
- read the report [4] from Dow Jones
ALSO: Take a look at Lilly's pipeline. Report [5]
Related Articles:
Doubters see big obstacles for Lilly's Prasrugel. Report [6]
In speech, Lilly CEO calls for drug monitoring. Report [7]
Lilly CEO: Use IT to boost drug safety. Report [8]
Links:
[1] http://www.fiercepharma.com/tags/cymbalta
[2] http://www.fiercepharma.com/special-reports/8-byetta-top-10-drug-warnings-and-recalls
[3] http://www.fiercebiotech.com/press-releases/press-release-lilly-showcases-pipeline-opportunities-wall-street
[4] http://www.easybourse.com/Website/dynamic/FicheValeur-Actualites.php?ISIN=FR0000120578&NewsID=353588
[5] http://www.fiercebiotech.com/special-reports/11-eli-lilly-top-15-r-d-budgets
[6] http://www.fiercebiotech.com/story/doubters-see-big-obstacles-lillys-prasrugel/2007-11-19
[7] http://www.fiercebiotech.com/story/speech-lilly-ceo-calls-drug-monitoring/2007-10-03
[8] http://www.fiercepharma.com/story/lilly-ceo-use-it-boost-drug-safety/2007-10-03