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Lilly Highlights Transformation Strategy for Wall Street, Reviews Robust Pipeline and Sets 2009 Financial Guidance
Date:12/11/2008

years. Future Zyprexa sales should benefit from a long-acting formulation, olanzapine LAI, which was recently approved in Europe and is under review by the FDA.

The company's animal health division, Elanco, has produced solid growth in 2008 and is expected to deliver double-digit earnings growth during the early part of the next decade, when several of the company's pharmaceutical products lose patent protection. Elanco sales have increased 15 percent through the third quarter, driven by volume expansion in emerging markets and the acquisition of Ivy Animal Health in 2007, as well as the strong U.S. launch of Comfortis(TM), a companion animal flea medicine. Companion animal is both the largest and fastest growing animal health segment. The company expects strong future growth in the companion animal segment and plans to launch several new products over the next three years in the U.S. and internationally. In addition, after the acquisition of the Posilac(R) brand, Elanco is now ranked at the top of the dairy segment and is also at the top of the medicated feed additive segment.

2008 Financial Guidance

The company has reconfirmed its full-year 2008 financial guidance on a pro forma non-GAAP basis and has lowered its guidance on a reported basis. On a reported basis, the company now expects to record a loss of $1.56 to $2.06 per share. The change from earlier guidance of earnings per share of $2.44 to $2.49 results from an estimated $4.05 to $4.50 per share charge related to the ImClone acquisition which closed in November, 2008. Excluding significant items, the company has reiterated its pro forma non-GAAP earnings per share guidance of $3.97 to $4.02 per share. All other aspects of the company's 2008 guidance remain unchanged.


    2008 Earnings Per Share Expectations:


                                          2008            2007
                                      Expectations 
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