Eli Lilly and Co. (LLY.N: Quote, Profile, Research) said on Wednesday fourth quarter earnings fell, hurt by a charge for a settlement with users of its Zyprexa schizophrenia drug, and it forecast 2007 earnings at the low end of Wall Street estimates.And to think that there are still some relatively large lawsuits looming over Zyprexa. Ouch.
Global Zyprexa revenue rose 12 percent to $1.16 billion, in large part because of price hikes. The company said U.S. demand remained flat for the pill, whose use has been crimped by concerns over weight gains that can increase risk of diabetes.
Cymbalta sales leaped 85 percent to $424 million, amid soaring demand in the United States and introductions of the drug in more overseas markets. [Must be that catchy Depression Hurts campaign that miseladingly suggests Cymbalta lowers pain in depression]
Wednesday, January 31, 2007
According to Reuters, Lilly's earnings fell for 4th quarter 2006 and it is also issuing guidance that its earnings may be lower than expected this year.
Posted by CL Psych at 1/31/2007 05:23:00 AM