Eli Lilly 2nd-qtr sales and earnings tumble on Zyprexa patent expiry, but still beat forecasts

26 July 2012

US drug major Eli Lilly (NYSE: LLY) reported that second-quarter 2012 worldwide revenue declined 10% to $5.6 billion, driven lower by schizophrenia drug Zyprexa’ (olanzapine) patent expirations, although these were partially offset by significant growth in other products. Net income declined 23 %to $924 million, or $0.83 a share. Profit excluding one-time items beat the average of 15 analysts’ estimates compiled by Bloomberg by $0.06.

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