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Lilly Provides Update on 2011 Financial Guidance Due to Xigris Withdrawal
Date:10/25/2011

INDIANAPOLIS, Oct. 25, 2011 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) has updated its full-year 2011 financial guidance as a result of the announced withdrawal of the company's Xigris® product.

Lilly expects to incur a charge in the fourth quarter of 2011 for asset impairments and contractual commitments related to Xigris. The exact amount of the charge has not yet been determined, but is estimated to be in the range of $75.0 million to $95.0 million (pre-tax), or approximately $.05 per share (after tax).

Lilly's full-year 2011 earnings per share guidance on a non-GAAP basis remains unchanged at $4.30 to $4.35. On a reported basis, including the Xigris asset impairment charge, Lilly now expects its full-year 2011 earnings per share to be in the range of $3.84 to $3.89. See the reconciliation below for further detail.

2011 Earnings Per Share Expectations:2011 Expectations2010

Results% GrowthEarnings per share (reported)$3.84 to $3.89$4.58(15)% to (16)%In-process research and development charges associated with
Boehringer Ingelheim collaboration (2011) and Acrux
licensing agreement (2010).23.03Asset impairments and restructuring charges:

Year-to-date charges

Estimated Xigris charge.18

.05.13

-Earnings per share (non-GAAP)$4.30 to $4.35$4.74(8)% to (9)%About Eli Lilly and CompanyLilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs.  Additional information about Lilly is available at www.lilly.com.  C-LLY

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