LEL Lilly(Eli)

 
TIDMLEL 
 
Date: October 25, 2011 
 
For Release: Immediately 
 
Refer to: (317) 276-5795 - Mark Taylor (Media) 
 
(317) 655-6874 - Philip Johnson (Investors) 
 
   Lilly Provides Update on 2011 Financial Guidance Due to Xigris Withdrawal 
 
INDIANAPOLIS, IN - Eli Lilly and Company (NYSE:LLY) has updated its full-year 
2011 financial guidance as a result of the announced withdrawal of the 
company's Xigris® product. 
 
Lilly expects to incur a charge in the fourth quarter of 2011 for asset 
impairments and contractual commitments related to Xigris. The exact amount of 
the charge has not yet been determined, but is estimated to be in the range of 
$75.0 million to $95.0 million (pre-tax), or approximately $.05 per share 
(after tax). 
 
Lilly's full-year 2011 earnings per share guidance on a non-GAAP basis remains 
unchanged at $4.30 to $4.35. On a reported basis, including the Xigris asset 
impairment charge, Lilly now expects its full-year 2011 earnings per share to 
be in the range of $3.84 to $3.89. See the reconciliation below for further 
detail. 
 
2011 Earnings Per Share Expectations: 
 
                                        2011           2010          % Growth 
                                    Expectations 
                                                      Results 
 
Earnings per share (reported)       $3.84 to $3.89     $4.58       (15)% to (16)% 
 
In-process research and development     .23             .03 
charges associated with Boehringer 
Ingelheim collaboration (2011) and 
Acrux licensing agreement (2010) 
 
Asset impairments and restructuring     .18             .13 
charges: 
                                        .05              - 
Year-to-date charges 
 
Estimated Xigris charge 
 
Earnings per share (non-GAAP)       $4.30 to $4.35     $4.74       (8)% to (9)% 
 
About Eli Lilly and Company 
 
Lilly, a leading innovation-driven corporation, is developing a growing 
portfolio of pharmaceutical products by applying the latest research from its 
own worldwide laboratories and from collaborations with eminent scientific 
organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - 
through medicines and information - for some of the world's most urgent medical 
needs. Additional information about Lilly is available at www.lilly.com. C-LLY 
 
This press release contains forward-looking statements that are based on 
management's current expectations, but actual results may differ materially due 
to various factors. There are significant risks and uncertainties in 
pharmaceutical research and development. There can be no guarantees with 
respect to pipeline products that the products will receive the necessary 
clinical and manufacturing regulatory approvals or that they will prove to be 
commercially successful. Pharmaceutical products can develop unexpected safety 
or efficacy concerns. The company's results may also be affected by such 
factors as competitive developments affecting current products; market uptake 
of recently-launched products; the timing of anticipated regulatory approvals 
and launches of new products; regulatory actions regarding currently marketed 
products; issues with product supply; regulatory changes or other developments; 
regulatory compliance problems or government investigations; patent disputes; 
changes in patent law or regulations related to data-package exclusivity; other 
litigation involving current or future products; the impact of governmental 
actions regarding pricing, importation, and reimbursement for pharmaceuticals, 
including U.S. health care reform; changes in tax law; asset impairments and 
restructuring charges; acquisitions and business development transactions; and 
the impact of exchange rates and global macroeconomic conditions. For 
additional information about the factors that affect the company's business, 
please see the company's latest Form 10-Q and Form 10-K filed with the U.S. 
Securities and Exchange Commission. The company undertakes no duty to update 
forward-looking statements. 
 
                                     # # # 
 
Xigris® (drotrecogin alfa (activated)), Lilly 
 
 
 
Eli Lilly and Company 
 
Lilly Corporate Center 
 
Indianapolis, Indiana 46285 
 
U.S.A. 
 
www.lilly.com 
 
 
 
END 
 

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