Lilly sees revenue growth in first quarter

Lilly has published its financial report for the first quarter of the 2010 fiscal year, during which the company experienced a year-on-year growth in revenue.

The pharmaceutical company’s reported revenue takings for the three month period came to $5.5 billion (3.6 billion pounds), representing an increase of nine per cent compared to the $5 billion figure from the first quarter of 2009.

During the period, the company was also able to achieve a number of key clinical and business milestones, such as the acquisition of exclusive rights to duloxetine from Boehringer Ingelheim.

Dr John Lechleiter, Lilly’s chairman and chief executive officer, said the results are indicative of “strong operational performance”, despite ongoing economic difficulties.

He added: “Our volume-driven revenue growth remains solid and we are making the investments necessary to accelerate the flow of potential new medicines through our pipeline.”

Earlier this month, Lilly was granted a recommendation from the National Institute for Health and Clinical Excellence for its cancer drug Alimta to be approved for NHS funding.