Lilly to Cut More ICOS Jobs: COO Lechleiter on Why the Company’s Bullish on Psych Drugs

Eli Lilly's earnings report came out today and, while the company profits fell 39% due to the ICOS acquisition, its financial projections are still ahead of analysts' predictions.  For more detail, read Bloomberg's latest report.  However, the company will reportedly be eliminating more positions at ICOS, which was acquired to give the company full ownership of Cialis. Lilly remains bullish on its pscych drugs portfolio.  Three days ago, it launched Reconcile, a form of Prozac designed to treat "separation anxiety" in dogs (OK, no comment for now)  The company has high hopes for Symbyax, which combines Prozac and Zyprexa (to reach that drug's official web site, via a slight detour, click here). It also has high hopes for its Type 2 diabetes treatment (pronounced, not as it looks, but as "Bye-ate-a") Biatta.  The world's seventh largest drugmaker has seen demand for key products grow by double-digit rates outside of the U.S., says president and chief operating officer John Lechleiter.  Here is the brief "market and pipeline" recap that he gave Bloomberg today. 

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Eli Lilly COO John Lechleiter with Market, Pipeline Update - Bloomberg

Bloomberg - (BLOOM)

Apr. 16, 2007. 07:31 AM EST

Double-digit volume growth is being seen in Europe and globally, he says.

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Lilly Lechleiter Interview, Part II - Bloomberg

Bloomberg - (BLOOM)

Apr. 16, 2007. 07:34 AM EST

More from President and COO John Lechleiter