Financial Risk Management at Eli Lilly and Company
| Case Code: FINA016 Case Length: 15 Pages Period: 2003 Pub Date: 2003 Teaching Note: Not Available |
Price: Rs.500 Organization: Eli Lilly and Company Industry: Pharmaceutical Countries: Global Themes: Banking and Financial Management |
Abstract Case Intro 1 Excerpts
Introduction
Eli Lilly (Lilly), one of the leading players in the global pharmaceuticals industry was best known for its popular antidepressants, Prozac and Serafem. The company offered medicines for a wide variety of ailments. Top drugs included Gemzar (pancreatic cancer), Evista (osteoporosis), Humalog (insulin), Actos (Type 2 diabetes), and Zyprexa (schizophrenia and bipolar disorder). In addition to neurological, oncological, and diabetes drugs, the company also made antibiotics, growth hormones, anti-ulcer agents, and cardiovascular therapies, as well as animal health products. Lilly lost its lucrative patent protection for Prozac in August 2001. The company hoped launches of osteoporosis treatment Forteo, antidepressant Duloxetine, and erectile dysfunction treatment Cialis could replace the lost income. Lilly had some 40 other drugs in development, including treatments for sepsis, cancer, and diabetes. In an effort to avoid government price controls, the company had launched LillyAnswers, a drug discount program for low-income seniors. The program allowed seniors to get prescription drugs for a small monthly fee, significantly reducing the overall cost for recurring medication needs. In 2002, Lilly recorded revenues of $11,077.5 million and a net income of $2,707.9 million...
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