Published on April 19, 2004 at 6:22 PM
First-Quarter Highlights
- Sales increased a robust 17 percent, to $3.377 billion, driven primarily by sales growth of major products, including Zyprexa, Gemzar and Evista, as well as growing sales from the newer products.
- Newer products -Alimta®, Cialis®, Forteo®, Strattera®, Symbyax™ and Xigris® - contributed $309.1 million to first-quarter sales in 2004 and accounted for 9 percent of total sales.
- Net income decreased 2 percent, to $400.4 million, and diluted earnings per share decreased 3 percent, to $.37, primarily due to a non-tax-deductible charge of $362.3 million related to the acquisition of Applied Molecular Evolution, Inc. (AME) in the first quarter of 2004.
- Excluding the $362.3 million charge for acquired in-process research and development related to the AME acquisition and excluding charges in the first quarter of 2003 related to asset impairments, restructuring and other special charges, net income and diluted earnings per share both increased 15 percent, to $762.7 million and $.70, respectively.