Eli Lilly has reported a decline in it third quarter earnings despite a 9% sales increase attributed to its Cymbalta and Alimta medications.
Earnings fell 5%, with net income falling to $1.24bn, as higher administrative expenses and a mandatory pharmaceutical manufacturer fee of $45m related to the US healthcare reforms took their toll.
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The strong performance of Cymbalta and Alimta, particularly overseas, boosted Lilly’s performance. Cymbalta reported a 29% increase to $1.07bn, while Alimta grew 12% to approximately $629m.
Lilly’s best-selling drug, however, continues to be the antipsychotic Zyprexa, which reported turnover of $1.19bn representative of a 3% decline.
Zyprexa has recently lost patent exclusivity in Europe, while patent protection has expired in the US. Lilly has admitted that predicting the impact of generic competition on sales of the drug is difficult.
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