Business briefs: Boston Scientific, Eli Lilly, Genzyme
Zyprexa sales, or the lack thereof, took a bite out of Eli Lilly's sales numbers for the quarter and the year, the company reported Tuesday. The latest tally puts fourth quarter sales for 2012 at just under $6 billion, down 1% from the year before. That includes a 2% drop in US sales during the quarter, although animal health sales and higher-priced pharmaceuticals helped smooth the quarter's results. Strong performers included Cymbalta, which saw sales rise 25% compared to the same period the year before. Forteo also gave the firm a boost, increasing 20%, compared to the same period the year before. Lilly reported that it exited 2012 7% lighter in global sales, largely due to Zyprexa's going generic in major markets. Marketing and SG&A costs slid 5% during the year, to $7.5 billion, and the company increased its R&D spend to $5.3 billion to back late-stage clinical trials. Regarding Lilly's experimental HDL-boosting cholesterol drug, the company said it remains committed to the drug and that it cannot be lumped in with Merck's Tredaptive, which is being pulled in Europe, and Roche's CETP inhibitor, which was scrapped in March 2012.
Genzyme announced Monday it has put up its leukemia drug Lemtrada up for another round of regulatory scrutiny in hopes of securing an indication for relapsing MS. The Sanofi subsidiary said in a statement it expects the FDA to review the application in the second half of this year and that it is currently being reviewed by the European Medicines Agency.