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Biotech / Medical : Eli Lilly

LLY 1,071

+1.3%

Dec 19 3:59 PM EST

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To: Bull-like who wrote (371)	10/21/1998 9:23:00 PM
From: Anthony Wong	of 642

Will's Drug Stock Commentary on LLY: 10/21/98 Eli Lilly (LLY) reported a $0.50 for the quarter (after pulling out a tax gain and the ICOS R&D collaboration expense), which was a penny below street expectations. However, the company has ramped up its R&D spending (up 28%) which accounted for the penny difference. Overall, it was a solid quarter. The company experienced the following product growth - Prozac rose by 12%, Zyprexa 96%, Insulin 10%, Healthcare Management Services 54%, Axid declined by (27%), Reopro 37%, Cefacior dropped by (7%) and Gemzar 46%. Evista sales were $33 million versus $15 million in second quarter of 1998. Zypreza is now the #2 anti-psychotic on the market behind Risperdal. It has a 22.5% market share versus 24.5% for Risperdal. Evista's three-year fracture data should be released in December. The company expects the lawsuit regarding generic competition with Barr Laboratories (BRL) to go to court in January of 1999. This will be a long trial but is very important to LLY as Prozac makes up over 30% of the company's revenue. Analysts are also scared about increased competition for Prozac given the recent launch of Celexa by Warner-Lambert (WLA) and Forest Laboratories (FRX). labpuppy.com

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