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Lilly Caps Successful Year with Strong Fourth-Quarter Results
Date:1/29/2008

ire from

the board and from the company. John C. Lechleiter, Ph.D., currently

president and chief operating officer, will assume the role of chief

executive officer as of April 1, 2008.

-- In January 2008, the FDA approved Cialis for once-daily use to treat

erectile dysfunction.

-- In December, the company entered into a licensing and development

agreement with BioMS Medical Corp., granting Lilly exclusive worldwide

rights to BioMS Medical's lead multiple sclerosis (MS) compound,

MBP8298. The compound is currently being evaluated in two pivotal

phase III clinical trials in secondary progressive MS (SPMS) and one

Phase II clinical trial in relapsing-remitting MS (RRMS). The

transaction closed in January, 2008.

-- In December, the company ceased production at its manufacturing

facility in Basingstoke, England as part of the previously-announced

site closure.

-- In November, the FDA approved Cymbalta for the maintenance treatment

of major depressive disorder (MDD) in adults.

-- In October, the company acquired the rights to a portfolio of

transient receptor potential vanilloid sub-family 1 (TRPV1) antagonist

molecules from Glenmark Pharmaceuticals S.A. The lead compound, GRC

6211, is currently in Phase II development as a potential next-

generation treatment for various pain conditions, including

osteoarthritic pain.

"Lilly completed a very successful year by continuing to deliver strong financial results to our shareholders in the fourth quarter," commented Sidney Taurel, chairman and chief executive officer. "Our additional investment in sales and marketing helped fuel accelerated double-digit sales growth this quarter, which was once again driven mainly by volume. Our performance provided the financial flexibility we sought to make appropriate inve
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SOURCE Eli Lilly and Company
Copyright©2008 PR Newswire.
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