Large-Cap Pharmaceuticals

Eli Lilly and Company

The Company

Eli Lilly <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: LLY)") else Response.Write("(NYSE: LLY)") end if %> was incorporated way back in 1901 and has been engaged in the development, manufacture, and marketing of "life science" drug products since inception. Lilly consists of three operating units: Pharmaceutical Products, Animal Health Products, and Health Care Management Services. The company is best known for its controversial drug Prozac. In fact, its largest selling products are the family to which Prozac belongs, central nervous system agents.

Latest Financials

For the first quarter of 1997, worldwide sales were $1.953 billion, an increase of 10% compared with sales of $1.783 billion in the first quarter of 1996. Reflecting favorable manufacturing costs and strict expense controls, operating income increased 21%, to $638.8 million. Net income and earnings per share (EPS) increased 11%, to $432.6 million and $0.79, respectively, from $389.2 million and $0.71 in 1996. A previously announced decision to discontinue a collaboration with Somatogen, Inc., resulted in a one-time charge of approximately $24 million. Without that charge, EPS would have been $0.82, representing a 15% increase from last year's quarter. Worldwide sales volume growth of 12 % and a 1% increase in global selling prices were partially offset by unfavorable exchange rate comparisons of 3%. (Go to next snapshot.)

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