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Lilly Reports Second-Quarter 2011 Results
Date:7/21/2011

, driven by the favorable impact of foreign exchange rates.

Forteo

Second-quarter sales of Forteo were $231.0 million, a 10 percent increase compared with the second quarter of 2010. U.S. sales of Forteo decreased 16 percent to $110.2 million due to decreased demand. Sales outside the U.S. increased 55 percent, to $120.8 million, due primarily to increased demand resulting from the recent launch in Japan, and, to a lesser extent, the favorable impact of foreign exchange rates.

Strattera

During the second quarter of 2011, Strattera generated $157.7 million of sales, an increase of 7 percent compared with the second quarter of 2010. U.S. sales decreased 2 percent to $98.0 million, due to decreased demand. Sales outside the U.S. increased 28 percent, to $59.6 million, driven primarily by strong demand in international markets including Japan and, to a lesser extent the favorable impact of foreign exchange rates, partially offset by lower prices.

Gemzar

Gemzar sales totaled $112.4 million in the second quarter of 2011, a decrease of 62 percent from the second quarter of 2010. Sales in the U.S. decreased 91 percent, to $17.2 million, due to the impact of generic competition following the patent expiry in November 2010. Sales outside the U.S. decreased 8 percent, to $95.3 million, due to generic competition in most major markets.

Erbitux

Lilly recognizes net royalties received from its Erbitux collaboration partners and revenue from manufactured product sold to these partners. For the second quarter of 2011, Lilly recognized total revenue of $100.1 million for Erbitux, a decrease of 4 percent from the second quarter of 2010.

Byetta®

Lilly recognizes in revenue its 50 percent share of Byetta's gross margin in the U.S., 100 percent of Byetta sales outside the U.S., and its sales of Byetta pen delivery devices to its partner, Amylin Pharmaceuticals. For the second quarter of 2011, Lilly recognized to
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SOURCE Eli Lilly and Company
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