Lilly Forecasts Strong Sales For Prozac
Eli Lilly expects double-digit sales growth in 1997 for its Prozac(fluoxetine), despite the threat of rival products. According to the firm's chief operating officer Sidney Taurel, sales of the drug rose 14% last year to $2.3 billion. It was noted that Prozac is the top antidepressant in the USA.
Lilly revealed that it will submit a New Drug Application for its osteoporosis drug raloxifene in mid-1997. The drug could reach the market in late-1997 or early-1998; it would compete with Merck & Co's Fosamax (alendondrate). It also said it was "comfortable" with analysts' 1996 earnings estimates of around $2.67 a share.
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