Lilly to launch three products in 2003

pharmafile | October 21, 2003 | News story | |   

Eli Lilly is to embark on an ambitious product launch schedule over the next two years to overcome the patent loss of its biggest earning product, Prozac, in 2001.

The loss of the drug's US patent over a year ago left a gaping hole in the company's revenues, producing four consecutive quarterly drops in earnings, only ending in the third quarter this year.

The company now hopes launches of Forteo, Strattera and Cialis in 2003 will turn its fortunes around. The launch of Forteo next year has now been confirmed, despite delays caused by FDA investigations of its manufacturing practices.

Chief Executive Sidney Taurel now says the company could launch up to eight new products by the end of 2004, but would need to establish marketing partnerships to achieve the goal.

"To appropriately fund those launches, we are cutting costs in non-core areas. At the same time, we will create shareholder value through the very selective use of partnerships that provide us with additional resources and capacity and help us manage risks", he said.

Two of these products, Cymbalta and Zyprexa IntraMuscular, look likely to be delayed as the company prepares for FDA inspectors at manufacturing facilities in the first half of next year.

Lilly's other candidates are olanzapine/fluoxetine, a combination for bipolar depression, duloxetine for stress urinary incontinence, and Alimta for tumours caused by asbestos exposure.

The company says it expects to increase its US salesforce to more than 17,500 by the end of 2004 in order to support the wave of new products.

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