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Biotech / Medical : Biotech failure, 2002 -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (55)	4/30/2002 8:47:03 AM
From: dalroi	Read Replies (1) \| Respond to of 130

icos preopening now at 28 INDIANAPOLIS, April 30 (Reuters) - Drugmaker Eli Lilly and Co. (NYSE:LLY - news) on Tuesday lowered its earnings guidance for 2002, citing a later-than-expected launch of a new anti-impotence drug being co-developed with ICOS Corp. (NasdaqNM:ICOS - news). Lilly and ICOS said on Tuesday they received conditional approval from U.S. regulators for the new pill, called Cialis, but they do not expect to launch the drug until 2003. Lilly said it is unsure when the drug will get final approval, but for the purposes of financial planning, the company is not including sales estimates for Cialis this year. Indianapolis-based Lilly said it expects to earn $2.60 to $2.65 per share for the year, below a previous estimate of $2.70 and $2.80. The company said it expects sales growth to be flat, down from a previous forecast of sales increasing by a percentage in the low- to mid-single digits.