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Lilly reports strong second quarter results

DUBAI: Eli Lilly and Company announced strong financial results for the second quarter of 2007 and raised its full-year sales and earnings per share guidance. In the second quarter, there was a 20 percent increase in sales to $4.631 billion. Reported net income and earnings per share were $663.6 million and $.61, respectively, compared with …


DUBAI: Eli Lilly and Company announced strong financial results for the second quarter of 2007 and raised its full-year sales and earnings per share guidance.

In the second quarter, there was a 20 percent increase in sales to $4.631 billion. Reported net income and earnings per share were $663.6 million and $.61, respectively, compared with second quarter 2006 net income of $822.0 million and earnings per share of $.76.

The company has raised its 2007 sales and earnings guidance and now expects full-year pro forma adjusted earnings per share to be in the range of $3.40 to $3.50 per share, or $2.75 to $2.85 per share on a reported basis.

We are very pleased to have delivered another quarter of strong financial results, commented Sidney Taurel, chairman and chief executive officer. Our accelerated, double-digit sales growth in this quarter was fueled by increased volume, driven by several products launched this decade, most notably Cymbalta. In addition, on a pro forma adjusted basis, we delivered exceptional earnings per share results by growing sales faster than cost of sales and operating expenses. We are encouraged by our outlook for the remainder of the year, and we feel confident in again raising our full-year 2007 sales and earnings guidance.

Worldwide sales of animal health products in the second quarter were $214.7 million, an increase of 7 percent compared with the second quarter of 2006.

Lilly is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with scientific organizations. Lilly provides answers – through medicines and information – for some of the world s most urgent medical needs.

Topics: FJP

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