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Lilly Reports Solid First-Quarter Results
Date:4/21/2008

------------------------------------

2008 2007

Expectations Results % Growth

---------------- ------- ----------

E.P.S. (reported) $3.90 to $4.05 $2.71 44% to 49%

Benefit from resolution of IRS audit (.19) -

Asset impairments and restructuring

charges .09 .15

Charge for a reduction in expected

insurance recoveries - .06

In-process research & development

charges associated with BioMS

Medical in-licensing (2008) and

ICOS, Hypnion, and Ivy acquisitions

and OSI, MacroGenics and Glenmark

in-licensings (2007) .05 .63

Pro forma as if the ICOS

acquisition was completed on

January 1, 2007 - (.01)

---------------- ------- ----------

Totals $3.85 to $4.00 $3.54 9% to 13%

---------------- ------- ----------

Webcast of Conference Call

As previously announced, investors and the general public can access a live webcast of the first-quarter 2008 financial results conference call through a link on Lilly's website at http://www.lilly.com. The conference call will be held today from 8:00 a.m. to 9:00 a.m. Eastern Daylight Time (EDT) and will be available for replay via the website through May 23, 2008.

Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific
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SOURCE Eli Lilly and Company
Copyright©2008 PR Newswire.
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