Loss of Patents Main Cause of Lower Earnings at Eli Lilly and Co (LLY)

The loss of Patents over the years, has been the main cause of lower earnings at Eli Lilly and Co (NYSE:LLY), the CEO of the company, Dr. John Lechleiter, said in an interview on CNBC. The loss of Zyprexa patent in the U.S caused the company the biggest blow as it also resulted in a big fine. The company’s focus now is shifting to investing in R&D as the company continues to look for new opportunities with great potential in the pharmaceutical space.

Eli Lilly & Co. (NYSE:LLY)

“We’ve had several years, starting back in 2011 with our product Zyprexa, which we lost the U.S Patents for late last year and then through this March when we lost Evista. We have had several years where we’ve lost Patents. It has been a roller coaster ride but we settled long, we will continue to invest in R&D,” said Mr. Lechleiter.

Eli Lilly and Co (NYSE:LLY) is now increasing its product pipeline at the back of launching its gastric cancer drug, Cyramza, which has already received FDA approval. The CEO also said that the company is in line to launch other products in the future that should boost its product pipeline. Eli Lilly and Co (NYSE:LLY) expects to resume growth at the end of the year on the back of new product lines according to its CEO.

“We launched Cyramza our drug for advanced gastric cancer a couple of months ago. We have other launches planned, we have other regulatory filings planned, so we are working our way through this period, and we aim with this new product launches to begin to resume growth as we come out of this year,” said  Mr. Lechleiter.

Eli Lilly and Co (NYSE:LLY) will continue to push for research and development in various sectors of medicine, seen as one of the ways that the company can use to discover and develop new products. Partnerships with other small companies with a view of developing products for the mass market also remain a key target for the company according to the CEO.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!