Eli Lilly pharmaceuticals news
Eli Lilly outlined plans to drive growth through its impending patent cliff. The strategy includes increasing the number of late-stage candidates, continuing cost reductions and expanding further into emerging markets. The pharma noted that patent expirations affecting psychiatric drugs Zyprexa olanzapine and Cymbalta duloxetine, chemotherapeutic Gemzar gemcitabine and osteoporosis drug Evista raloxifene will reduce annual revenue by about $7 billion from 2010 to 2014.
Lilly's pipeline includes 70 candidates in clinical development, including 33 in Phase II and III testing, up from seven in 2005. The company hopes to have 10 new molecular entities in Phase III testing by year end. Lilly said it is still on track to complete its ongoing restructuring, which started in 2009 and includes employee cuts of 5,500 and a cost structure reduction of $1 billion (see BioCentury, Sept. 21, 2009). ...