Lilly hails solid growth in second quarter

Lilly has published its financial report for the second quarter of 2011, during which it experienced a nine percent year-on-year increase in revenue.

The company generated a $6.3 billion (3.8 billion pounds) revenue total for the three-month period, driven by a combination of favourable exchange rates and increasing demand for its products.

It was noted that drugs such as Cymbalta and Cialis have continued to perform well, as has its insulin range, while various investments have been made towards broadening the firm's portfolio.

In particular, Lilly has been seeking to bolster its research and development portfolio, which now includes 70 potential new medicines.

Dr John Lechleiter, Lilly's chairman, president and chief executive officer, said: "Our financial results reflect the solid performance of many of our marketed products, as well as important investments we are making to expand our commercial opportunities."

Last week, the company congratulated Dr Chris Clark, medical director of its subsidiary Avid Radiopharmaceuticals, for winning an accolade from the Alzheimer's Association for innovative neuroimaging research.