Eli Lilly sales for the fourth quarter were down 2%, a reasonable result given that its top-selling antidepressant/fibromyalgia blockbuster Cymbalta is suffering from the loss of US patent protection.
Net income fell 16% to $727.5 million, while turnover came in at $5.81 billion. Cymbalta (duloxetine) sank 38% to $883.2 million, while the lung cancer drug Alimta (pemetrexed) increased 6% to $726.2 million. The insulin products Humalog and Humulin rose 19% and 8% respectively, to $733.9 million and $369.5 million.
The continued effect of patent losses hit the antipsychotic Zyprexa (olanzapine), which had turnover of $348.2 million, down 10%, while the osteoporosis/breast cancer drug Evista (raloxifene) increased 14% to $275.9 million; Lilly’s other osteoporosis drug Forteo (teriparatide) was also up 14% to $359.8 million.
The erectile dysfunction drug Cialis (tadalafil) rose 15% to $588.3 million, while the attention-deficit hyperactivity disorder drug Strattera (atomoxetine) generated $201.1 million of sales, up 23%. The bloodthinner Effient (prasugrel) which is partnered with Daiichi Sankyo, climbed 8% to $130.6 million.
Chief executive John Lechleiter said that the loss of the Cymbalta patent, along with the expiration of the US patent for Evista in March "will result in a substantial decline in revenue and earnings". However he added that "far from seeing 2014 as a trough year for Lilly, we see it as a moment of tremendous opportunity. We anticipate launching several new medicines this year and returning our company to growth in 2015 and beyond".