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Lilly posts rise in sales

Eli Lilly & Co has posted sales of $5.15bn for the second quarter of 2008, an 11 per cent rise on figures for the same period in 2007, marking a strong start to the 2008/09 fiscal year
Eli Lilly & Co has posted sales of $5.15bn for the second quarter of 2008, an 11 per cent rise on figures for the same period in 2007, marking a strong start to the 2008/09 fiscal year.

Net income rose from $663.6m to $958.8m, an increase of 44 per cent, with earnings per share increasing to $0.88 from $0.61. Total net sales for the first half of 2008 rose to $9.96bn, a 12 per cent increase from $8.86bn for the same period last year.

"Lilly continued to deliver solid financial results in the second quarter, including double-digit growth in sales and earnings," said Dr John Lechleiter, president and CEO of Lilly. "Our newer products, including Cymbalta, Cialis and Alimta, continued to perform exceptionally well, while our diabetes care franchise has made good progress."

Sales of Cymbalta increased to $654.4m, a rise of 26 per cent from a total of $542.8m in 2007, which Lilly attributes to a higher demand for the product. Cialis experienced a 24 per cent increase in sales with a reported total sales of $362.2m and sales of Alimta rose 33 per cent to $275m.

Despite strong financial performance for the second quarter, the total number of employees working for Lilly's worldwide operations fell by 400 from 40,600 at the end of 2007 to 40,100 at the end of June 2008.

24th July 2008

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