Lilly Reports Strong First-Quarter 20... (ase compared with the first quarter of 2...)

Lilly Reports Strong First-Quarter 2009 Results

Date:4/20/2009

ase compared with the first quarter of 2008. U.S. sales of Forteo increased 3 percent, to $121.8 million, driven by increased net effective selling prices, partially offset by lower demand. Sales outside the U.S. decreased 1 percent, to $65.7 million, due to the unfavorable impact of foreign exchange rates, partially offset by higher demand.

Strattera

During the first quarter of 2009, Strattera generated $158.9 million of sales, an increase of 7 percent compared with the first quarter of 2008. U.S. sales were essentially flat at $115.6 million, due to higher net effective selling prices offset by lower demand. Sales outside the U.S. increased 33 percent, to $43.3 million, driven by a one-time benefit from the resolution of pricing discussions in Canada and, to a lesser extent, higher demand, partially offset by the unfavorable impact of foreign exchange rates.

Byetta(R)

Lilly reports in collaboration revenue its 50 percent share of Byetta's gross margin in the U.S., and in product sales 100 percent of Byetta sales outside the U.S., and its sales of Byetta pen delivery devices to its partner, Amylin Pharmaceuticals. For the first quarter, Lilly recognized total revenue of $97.5 million for Byetta, an increase of 18 percent, comprised of collaboration revenue of $70.2 million and product sales of $27.3 million.

Worldwide sales of Byetta were $181.4 million in the first quarter of 2009, a 7 percent increase compared with the first quarter of 2008 driven by growth in international markets. U.S. sales of Byetta of $157.7 million were essentially flat compared with the first quarter of 2008 while sales of Byetta outside the U.S. were $23.7 million.

Erbitux

Lilly reports in collaboration revenue the net royalties received from its Erbitux collaboration partners, and in product sales the revenue from manufactured product. For the first quarter, Lilly recognized
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