Lilly reports second-quarter sales of $3.87 billion, up 5% from prior-year period

By Lisa Kerner

Charlotte, N.C., July 21 - Eli Lilly and Co. said for the second quarter of 2006, worldwide sales increased 5% to $3.87 billion from the pervious year.

The sales increase was attributed in part to accelerating sales of Cymbalta, which reached $310.4 million for the quarter, up 92% from the second quarter of 2005.

New product sales, including Cialis, Cymbalta and Byetta, collectively grew 48% to $920.2 million.

Lilly's second-quarter net income of $822.0 million, or $0.76 earnings per share, rose from the net loss of $252.0 million, or $0.23 per share, in the prior-year period.

Operating income increased 12%, while net income and earnings per share grew 13%, not including the second-quarter 2005 product liability charge.

Gross margins as a percent of sales improved by 1.5 percentage points, to 77.7%.

Company highlights for the second quarter include Lilly's agreement with Alcon, Inc. to co-promote Arxxant, U.S. approval of Gemzar for the treatment of recurrent ovarian cancer in combination with carboplatin and submission of a New Drug Application for Cymbalta for the treatment of generalized anxiety disorder.

Lilly also started a phase 3 clinical trial to study enzastaurin in patients with diffuse large B-cell lymphoma and extended its U.S. patient assistance program, LillyAnswers.

Lilly is an Indianapolis-based pharmaceutical company.

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