New products behind Lilly growth
pharmafile | October 19, 2007 | News story | Sales and Marketing | lilly, zyprexa
Sales rose 19% for Lilly in the third quarter of the year, with depression treatment Cymbalta leading the growth in revenue from newer products.
The drug's sales rose 47% to over $500 million in the quarter, but the company remains reliant on its older blockbuster Zyprexa to provide much of its revenues.
Zyprexa is Lilly's biggest seller, and accounts for nearly a third of total revenues. Sales of the drug had declined in 2006 and earlier this year, due to competition and concerns about its side effects, but the company overcame this to see Zyprexa's sales rise 8% in the third quarter.
Products launched this decade – Alimta, Byetta, Cialis, Cymbalta, Forteo, Strattera, Symbyax, Xigris and Yentreve – collectively grew 56%, to $1.49 billion, and accounted for 33% of total sales, compared with 25% of total sales in the third quarter of 2006.
Overall, the results for the period are better than expected, and the company has raised its earning per share forecast for the full year.
New antibody deal
The company also announced a deal with biotech firm MacroGenics to acquire the rights to teplizumab, a humanized anti-CD3 monoclonal antibody, currently in phase II/III studies to treat recent onset type I diabetes.
The drug is thought to work by helping to prevent the autoimmune attack on beta cells in the pancreas, sparing remaining cells so they can continue to produce insulin.
The companies will develop and market teplizumab together, as well as other potential next-generation molecules for use in the treatment of autoimmune diseases.
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