Lilly Reports Revenue Growth, Comfortis Sales Strong

Revenue increase reported by Eli Lilly and Co.

Eli Lilly and Co. reported financial growth for the fourth quarter and full year of 2009. Worldwide sales of animal health products in the fourth quarter of 2009 hit $353.1 million, an increase of 8 percent compared with the fourth quarter of 2008, according to the drug maker based in Indianapolis.

The company said its Comfortis (spinosad) dog flea product has contributed to a 1 percent growth in U.S. sales, to $187.7 million, mainly because of higher prices and increased sales of the product. However, that is partially offset by lower demand of other animal health products.

Sales outside the U.S. increased 17 percent, to $165.5 million, driven primarily by increased demand and, to a lesser extent, the favorable impact of foreign exchange rates, the company said. For the full-year of 2009, worldwide animal health sales increased 10 percent to $1.207 billion.

U.S. animal health sales for 2009 were $672.2 million; a 25 percent increase credited to the inclusion of sales from the dairy cow supplement Posilac (sometribove) acquisition made in October 2008. Animal health sales outside the U.S. were $535.0 million, a 4 percent decrease caused by the unfavorable impact of foreign exchange rates.

“Lilly's financial results in the fourth quarter completed a year of strong operational performance, highlighted by volume-based revenue gains, improved gross margins and quality earnings growth,” said John Lechleiter Ph.D., Lilly’s chairman and CEO. “In 2009, we delivered solid financial results even as we continued to implement a series of actions aimed at speeding innovation to patients and delivering greater value to our customers.”

The company said it is well-positioned in 2010, through a new operating structure, to maximize the value of its portfolio of products worldwide and advance the medicines in its clinical pipeline.

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