Lilly hit by Zyprexa losses
The loss of exclusivity on Eli Lilly’s blockbuster antipsychotic Zyprexa hit the company hard in 2012, with the firm’s overall revenue falling 7% worldwide.
The drug itself, licensed to treat schizophrenia and bipolar disorder, brought in as much as $5 billion in 2010, but had sales of just $1.7 billion last year - down 63% on 2011’s figure.
Lilly’s turnover fell to $22.6 billion, although its pre-tax profit of $5.4 billion was up 1% year-on-year. Life without Zyprexa is proving as tough as Lilly predicted a year ago, and its troubles are far from over.
Sales of another top-seller, the antidepressant Cymbalta were impressive in 2012, up 20% to $4.9 billion - but it too is about to lose patent protection in major markets.
Lilly chief executive John Lech