Sidney Taurel
Sidney Taurel
Sidney Taurelis a Moroccan-born American businessman. He is the former Chairman and Chief Executive Officer of Eli Lilly and Company. He became chief executive officer in July 1998 and chairman of the board of directors on January 1, 1999. He was succeeded as chief executive officer by John C. Lechleiter on April 1, 2008. He now serves as an advisor at Moelis & Company...
adjusted anticipate average compared consensus deliver double earnings expect expected fact forecast given growth major nearly patent per rate represents rest share street sustained uniquely wall
Given our products, pipeline, and the fact that we expect no major patent expirations for the rest of this decade, Lilly is uniquely positioned to deliver sustained earnings growth. For 2006, we anticipate earnings per share of $3.10 to $3.20, which represents 8% to 12% growth compared with expected 2005 adjusted earnings. This growth rate is nearly double the average Wall Street consensus forecast for large-cap pharmaceutical companies.
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Our strong bottom-line results in the first quarter reflect the execution on our commitment to grow sales at a faster rate than our expenses.
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As our product line continues to become more diversified, we have become less dependent on Prozac performance. Major products introduced in the last five years accounted for fully one-third of our sales in 1999 and had a combined growth rate of 41 percent during the year.
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We are seeing a very resilient economy and one that seems to be growing in every part of the world. Just about every region is growing and it's very encouraging.
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Our overall growth for the next several quarters will be generated from newer product sales, line extensions of existing products and recent product launches, ... As a result, we will rely less on Prozac sales growth.
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Looking forward to 2006, our newer products should grow to about 24 percent of revenues and earnings per share should grow 8 to 11 percent, representing top-tier growth for large-cap pharmaceutical companies.
dose patient
the right dose of the right drug to the right patient at the right time.
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During his tenure, Charlie used his broad business experiences and sound judgment to help steer the company through many challenges over the past decade. Through Charlie's leadership, we have built a world-class financial organization and strengthened Lilly's reputation for sound financial operations, transparency in our financial reporting, and strong internal controls.
appeals asking case decision fails option supreme
We are asking for a rehearing on the decision by the appeals court, and if that fails we have the option of going to the Supreme Court, so the case is not over,
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I am committing all the necessary resources of the company to address these issues, ... We will continue to work closely with the FDA in order to deliver on our promise to bring these innovative new medicines to patients as quickly as possible.
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Now that we've done all this, our destiny is in our hands. It's up to us to perform. This new structure will help us better execute our strategy.
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While the first quarter was a challenging quarter, it underscores the importance of building a strong pipeline and effectively launching new products,
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It looks very, very promising, ... We believe that if the Phase III trials confirm what we have seen so far, this would be a very successful product.
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We deeply regret the 1998 conduct, which has resulted in a federal misdemeanor charge. We take seriously our responsibilities to abide by all the laws governing our business practices and are committed to ensuring our employees' actions reflect the highest legal and ethical standards of conduct. Although the government has not charged Lilly with any unlawful intent, we will continue to take steps designed to assure that Lilly's promotional activities remain fully compliant.