Lilly Gets A Lift From Cialis: Earnings Are Up

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up.jpgThe drugmaker reports that quarterly profits rose 6 percent, and thanks a 47 percent gain in sales of the Cymbalta antidepressant and a 27 percent increase in sales of Cialis, the erectile dysfunction pill. In the past, Lilly didn’t capture all Cialis sales, because the med belong to Icos, but the drugmaker bought Icos earlier this year.

As a result, net income increased to $926.3 million, or 85 cents a share, from $873.6 million, or 80 cents, a year earlier. Revenue rose 19 percent to $4.6 billion partner. Cymbalta sales, by the way, reached $513.2 million and Cialis notched $311.4 million in revenue. Lilly’s biggest seller, the Zyprexa antipsychotic, posted an 8 percent increase in sales to $1.17 billion, but that reflected a price increase earlier this year. (See complete results here ).

“Cialis seems to be taking market share from Levitra and Viagra, which is probably because of good marketing,” Les Funtleyder, an analyst at Miller Tabak, tells Bloomberg News, which cited Nielsen Monitor Plus data showing that Lilly spent at least $73 million to advertise Cialis between January and July 2007.

Going forward, the big Lilly story is a new blood thinner, Prasugrel, which could become a blockbuster, although investors and doctors are eagerly awaiting data to be presented next month at the American Heart Association meeting. Another biggie may be Byetta LAR, a version of the diabetes drug, which just received a warning about pancreatitis. “The earnings aren’t as big an event for Lilly right now as the results” of advanced studies of those drugs, says Funtleyder.

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  1. I think there is a rumor about a takeover, is that right?

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