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Lilly Reports Fourth-Quarter and Full-Year 2008 Results
Date:1/29/2009

e-tax charges totaling $4.730 billion, or $4.46 per share after tax, related to the acquisition of ImClone Systems. This amount includes a charge of $4.685 billion for in-process research and development, as well as ImClone operating results subsequent to the acquisition, incremental interest costs and amortization of the intangible asset associated with Erbitux(R).

-- The company recognized a charge of $80.0 million, or $.05 per share, for asset impairments, restructuring and other special charges described in footnote (a) of the attached pro forma non-GAAP income statement.

-- The company recognized a tax benefit of $136.9 million, or $.13 per share, based upon the determination at final resolution of the agreement that a portion of the EDPA settlement charge, taken in the third quarter of 2008, is tax deductible.

2007

-- The company recognized a charge of $98.2 million, or $.07 per share, for asset impairments, restructuring and other special charges related to previously announced manufacturing site closures and Zyprexa product liability.

-- The company recognized a charge of $89.0 million, or $.05 per share, for acquired in-process research and development associated with the MacroGenics and Glenmark in-licensings.


                                                    Fourth Quarter
                                                    --------------
                                                     2008    2007    % Growth
                                                    ------  ------   --------

     Earnings (Loss) per share (reported)          ($3.31)   $.78       NM
     Asset impairments, restructuring and
      other special charges                           .05     .07
     In-process research and development
      charge associated with the MacroGenics
      and Glenmark in-licensings                        -     .05
     Net impact asso
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SOURCE Eli Lilly and Company
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