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Biotech / Medical : Eli Lilly -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (151)	4/20/1998 8:06:00 AM
From: Henry Niman	Respond to of 640

Tom Burton from WSJ was just on CNBC. Most of the info is a re-run for readers of this board but here's a synopsis: LLY has two sets of data over a 2 1/2 year period. In one study Evista produced a 74% reduction in the incidence of breast cancer (n=7,000) and in another study the reduction was 58% (n=12,000). In addition, unlike Tamoxifen, there was no increase in the incidence of uterine cancer. Side effects were mentioned and like Tamoxifen it causes an increased incidence of blood clots. Of most import to Ligand long term shareholders were the comments on PREVENTION. Although the ultimate success of Evista is unknown, it is clearly a forerunner for a new class of drugs called designer estrogens (SERMs) in which drug makers try to optimize effects in the bone and cardiovascular areas and minimize side effects related to uterine and breast tissue proliferation. As most readers of this board know, LGND has SERM programs with LLY (Evista), PFE (Droloxifene and CP-366,156), and AHP (TSE424). Moreover, it has its own designer androgen program (LGD1331), which is ready to enter the clinic (see home.att.net ).

To: Henry Niman who wrote (151)	4/20/1998 6:23:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 640

The following article contains info from the conference call: Prozac Boosts Eli Lilly's 1Q Net; Co. Backs Yr Views April 20, 1998 11:54 AM By Jennifer Fron Mauer NEW YORK (Dow Jones)--Strong sales of its antidepressant drug Prozac helped boost Eli Lilly & Co.'s (LLY) profits 20% in the first quarter. "In terms of brining home the bacon, (Lilly's) still a Prozac story," said Alex Zisson, an analyst at Hambrecht & Quist Inc. The giant pharmaceutical company said it earned $521.1 million, or 46 cents a diluted share, compared with year-ago net income of $432.6 million, or 38 cents a diluted share. Those figures were in line with analysts' estimates of 46 cents a diluted share, according to First Call Inc. The latest results included a loss of $7.2 million, or one cent a share, for the early retirement of debt. The year-ago figures included charges associated with the discontinuation of a collaboration with Somatogen Inc. Sales rose 16% to $2.27 billion from $1.95 billion, driven by a 10% increase in sales of Prozac to $617.6 million. In a conference call with analysts, company officials said that although Prozac's patent will expire in 2003, the popular drug won't face generic competition in the U.S. until at least 2004, according to analysts on the call. In addition, company officials backed analysts' 1998 estimates of $1.85 to $1.89 a share. Analysts also were impressed the increased sales of Lilly's antipsychotic drug Zyprexa. Sales rose 172% in the quarter to $287.2 million. Zisson said the drug is doing very well against market leader Risperdal, made by Johnson & Johnson (JNJ). The NYSE-listed shares of Lilly rose to a new high of 73 3/4 early Monday on the strong earnings report and news that a study will show the company's Evista osteoporosis drug can help prevent cancer. The study, which is expected to be released at the American Society of Clinical Oncology conference May 16-19, is said to show that Evista can reduce the risk of breast cancer and cancer of the uterine lining. Analysts said they were cautiously optimistic about what the new study results will mean for Evista's sales. Launched in the first quarter, Evista had sales of $33.4 million. Lilly's NYSE-listed shares were up 3 3/8, or 4.9%, to 71 3/4 on composite volume of 6.7 million shares, compared with average daily volume of 4.3 million. -By Jennifer Fron Mauer; 201-938-5287; jennifer-fron.mauer@cor.dowjones.com