Lilly’s latest quarterly results ‘offer solid growth’

Eli Lilly has reported increased sales revenues of seven per cent during its third quarter, representing “solid” growth, according to the company.

Lilly’s newer products help to drive this increase, with particular emphasis placed on Cymbalta, the antidepressant known as Xeristar in European markets, which achieved sales of $348 million (185 million pounds) – a 91 per cent increase on figures during the same period last year.

Additionally, the antipsychotic drug, Zyprexa, retained its status as Lilly’s top-selling drug, bringing in sales of over $1 billion during the third quarter.

Sidney Taurel, chairman and chief executive officer of Lilly, commented: “Our third quarter delivered accelerating top-line growth and strong bottom-line results.”

“Our sales interventions and productivity initiatives are enabling us to accelerate performance and invest appropriately in key products while delivering solid earnings growth,” he added.

Lilly recently announced the acquisition of its development partner for Cialis, Icos, for $2.1 billion.

The company is currently deliberating over a proposed sale of its Basingstoke manufacturing facility, although Lilly’s UK headquarters would remain in the town if the factory was closed. The proposed closure is part of a recent drive to cut costs.