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Lilly to Take Charge to Earnings Related to Pending Federal and State Investigations of Past Practices
Date:10/21/2008

Company Will Take $1.415 Billion Charge in Third Quarter 2008

INDIANAPOLIS, Oct. 21 /PRNewswire-FirstCall/ -- Eli Lilly and Company (NYSE: LLY) today announced that it is in advanced discussions to resolve the ongoing investigations led by the U.S. Attorney's Office for the Eastern District of Pennsylvania (EDPA) related to past U.S. marketing and promotional practices for its antipsychotic medication Zyprexa(R) (olanzapine). As a result, the company will record in the third quarter of 2008 a charge of $1.415 billion, or $1.29 per share.

The Government's investigation is related to past marketing and promotional practices for Zyprexa in the United States. Lilly has now incorporated an enhanced compliance program that is designed to ensure that the company's global marketing and promotional practices fully comply with all laws and regulations. Lilly's compliance program includes the elements of compliance guidelines issued by the Department of Health and Human Services, Office of Inspector General, for the pharmaceutical industry. The company has a vice president and chief compliance officer, who reports directly to Lilly's chief executive officer; corporate compliance committee; a code of conduct; policies and procedures specific to promotion and marketing; extensive training; auditing, monitoring and reporting programs, including a compliance hotline; and disciplinary and corrective action processes.

"Lilly's compliance programs are comprehensive and demonstrate that compliance is a top priority of the company," said Robert A. Armitage, Lilly's senior vice president and general counsel. "The government's investigation of Zyprexa has been ongoing for five years and we now have a heightened sense of responsibility to
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SOURCE Eli Lilly and Company
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