Eli Lilly has announced a 9% increase in revenue to $5.749bn in Q2 2010, in comparison with the same period last year.
The growth comprised of a 5% increase due to higher volume, 2% due to higher prices and more than 1% due to foreign exchange rates. Revenue was, however, reduced by approximately $70m due to the impact of US health care reform.
Total US revenue increased 8% to $3.262bn due to higher prices and increased volume, while total revenue outside the US increased 9% to $2.487bn due to increased demand. Gross margin increased in line with total revenue growth, growing to 82.2% of total revenue.
Lilly chairman and CEO John C Lechleiter said that the results would enable the company to increase R&D funding.