- Company remains focused on speeding innovation to patients and delivering greater value to customers.
- Five strategic business units prepared to maximize growth opportunities in multiple therapeutic areas and geographies.
- Lilly advances ranking to ninth in worldwide pharmaceutical sales; fastest growing top 10 pharma company in the U.S., major Europe and globally.
- R&D pipeline boasts more than 60 molecules in clinical development, including 25 in Phases II and III.
- Company expects 10 Phase III molecules in 2011, plans to launch 2 new medicines per year beginning in 2013.
- Continued strong cash flow expected to fund R&D investment and business development transactions, while at least maintaining the current dividend.
- 2010 EPS guidance set at $4.65 to $4.85, excluding the potential impact of health care reform in the U.S.
- Longer-term guidance reconfirmed at low double-digit compound annual EPS growth between 2007 and 2011
At its annual meeting today with the investment community, Eli Lilly and Company (NYSE: LLY) highlighted how its innovation-based strategy will enable it to better serve patients and compete effectively in a challenging health care environment. The company also detailed the progress being made in its labs and across its five new business units on an expanding pipeline of innovative molecules and marketed medicines, and provided investors with the company's financial guidance for 2010.
"In 2009, Lilly has once again exhibited strong performance in a tough environment, and we've continued with a series of actions aimed at speeding innovation to patients and delivering greater value to our customers," said John C. Lechleiter, Ph.D., Lilly's president and chief executive officer. "Through these actions and more, we are transforming Lilly to compete and to win in an ever more demanding and challenging environment. We see a divergence of strategies among our peers to deal with these challenges, including the wave of consolidation this year. Many companies are seeking to lower risk by reducing their focus on innovative medicines. This is not our path. Our strategy is to create value by accelerating the flow of innovative new medicines that provide improved outcomes for individual patients. We aim to discover, develop, or acquire innovative new therapies - medicines that make a real difference for patients and deliver clear value for payers."
Steven M. Paul, M.D., executive vice president, science and technology and president of Lilly Research Laboratories, reinforced the company's commitment to innovation. "I believe that there's never been a more compelling case for innovative medicines. Our strategy is dependent upon our pipeline of potential medicines. I am encouraged by the fact that today we have the strongest pipeline in our history. We currently have more than 60 new molecules in clinical development, including 25 in Phases II and III, targeting unmet medical needs in areas such as Alzheimer's disease, cancer and diabetes, among others. We are excited by both the quantity and the quality of these molecules, and their potential to improve patient's lives."