Lilly chief exec affirms company is not for sale
Eli Lilly's chief executive said his company is not for sale, boasts a
healthy pipeline and plans on producing top growth for years to
come, during television appearance yesterday.
Sidney Taurel said on CNBC Thursday that, historically, mergers
have not created shareholder value "in a sustainable fashion."
The chief executive also discussed a Dec. 2 lawsuit Lilly filed in Indiana district court seeking to stop Barr Pharmaceuticals from marketing a generic version of Zyprexa, Lilly's largest drug with sales of $233 million in the 12 months ending in September. "We really don't know when the judgment will come," Taurel said.
Speaking on pharma companies' relationships with consumers following the withdrawal of Vioxx, Taurel said, "This is the most challenging period I've seen in my career."