Lilly announces third-quarter results

Lilly, manufacturer of pharmaceutical products, has posted its third-quarter results for fiscal 2009.

The group’s total reported revenue for the period stood at $5,562 (3.4 million pounds), compared to $5,209 during the same period of 2008 – representing growth of seven per cent.

Since Lilly’s last financial results were posted, the firm has announced that it plans to establish a development centre of excellence in order to streamline and accelerate late-stage development of new medicines.

It also plans to reorganise its pharmaceutical business into four units – oncology, diabetes, established markets and emerging markets – that will operate alongside the Elanco animal health business division.

John Lechleiter, Lilly’s chairman and chief executive officer, stated: “Our performance in the third quarter once again was driven by volume-based sales growth, improving gross margins and tight control of operating expenses, allowing us to deliver very attractive earnings growth.”

In other Lilly news this week, the firm announced that it has managed to reduce its absolute greenhouse emissions by 4.4 per cent since 2004 – a goal it did not anticipate reaching until next year.