Lilly Outlines Innovation Strategy, Reviews Promising Pipeline of Potential Medicines and Sets 2010 Financia... (iter Ph.D. Lilly's president and chief e...)

Lilly Outlines Innovation Strategy, Reviews Promising Pipeline of Potential Medicines and Sets 2010 Financial Guidance

Date:12/10/2009

iter, Ph.D., Lilly's president and chief executive officer. "Through these actions and more, we are transforming Lilly to compete and to win in an ever more demanding and challenging environment. We see a divergence of strategies among our peers to deal with these challenges, including the wave of consolidation this year. Many companies are seeking to lower risk by reducing their focus on innovative medicines. This is not our path. Our strategy is to create value by accelerating the flow of innovative new medicines that provide improved outcomes for individual patients. We aim to discover, develop, or acquire innovative new therapies - medicines that make a real difference for patients and deliver clear value for payers."

Steven M. Paul, M.D., executive vice president, science and technology and president of Lilly Research Laboratories, reinforced the company's commitment to innovation. "I believe that there's never been a more compelling case for innovative medicines. Our strategy is dependent upon our pipeline of potential medicines. I am encouraged by the fact that today we have the strongest pipeline in our history. We currently have more than 60 new molecules in clinical development, including 25 in Phases II and III, targeting unmet medical needs in areas such as Alzheimer's disease, cancer and diabetes, among others. We are excited by both the quantity and the quality of these molecules, and their potential to improve patient's lives."

Paul expanded on the efforts being made in Lilly's research and development organization. "By ramping up our efforts in discovery research, we have nearly doubled the number of new molecules moving into the clinic each and every year. As a result, we have tripled the number of potential new medicines in our clinical pipeline since 2004. Through the acquisition of ImClone and other actions, we have increased our portfolio of biotechnology-based molecules, which now represents over one-third of our clinic
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