Lilly highlights positive trends in 2014 fiscal forecast

Lilly has announced its financial guidance for 2014, highlighting the strategic priorities that will underpin the company's growth in the short and long term.

The firm anticipates 2014 revenue will fall between the range of $19.2 billion and $19.8 billion (11.7 billion to 12.1 billion pounds). Rising sales of products such as Humalog, Trajenta, Cialis, Forteo and Alimta will help offset declines for Cymbalta and Evista, following the expiries of their patents.

To stimulate growth from 2015 onwards, Lilly will be working this year to replenish and advance its pipeline. It has 13 potential new medicines in the phase III testing or submission stage, with an additional 26 in phase II.

More new product launches are expected to take place in 2014, while further efforts will be made to enhance the company's productivity and efficiency.

Dr John Lechleiter, Lilly's chairman, president and chief executive officer, said: "We believe our strategy is the right one for Lilly and one that will continue to create value for all of our stakeholders."

The company achieved year-on-year growth during the first nine months of 2013. Its financial report for the fourth and final quarter of the year is expected later this month.