Company news: Lilly and Amgen

Share this article:
Greater marketing and sales costs hurt Lilly's third-quarter profits, which slipped 6% to $1.2 billion. The company said sales rose 20% or more for several products during the quarter, including Cymbalta, Humalog, Strattera and Forteo, along with animal health products, but was hit by costs associated with healthcare reform, which reduced revenue by around $330 million and increased administrative expenses by around $135 million for the first nine months of the year.

Amgen is laying off 380 employees from its R&D division, Bloomberg reported, after slashing research spending 26% during the second quarter to accommodate the expense associated with moving three pipeline candidates into larger clinical trials.
Share this article:
You must be a registered member of MMM to post a comment.

Does a health psychology approach hold the key to Rx adherence? In MM&M's latest Leadership Exchange Uncut eBook, industry stakeholders from the payer, provider, academic and pharma realms explore the "why" behind medicine taking. Access here.