Eli Lilly 2008 Annual Report Download - page 3

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1
2008 Financial Highlights
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions, except per-share data) Year Ended December 31 2008 2007 Change %
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20,378.0 $18,633.5 9
Research and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,840.9 3,486.7 10
Research and development as a percent of net sales . . . . . . . . . . . . . 18.8% 18.7%
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(2,071.9) $ 2,953.0
Earnings (loss) per share—diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1.89) 2.71
Reconciling items1:
Net impact associated with ImClone acquisition2 . . . . . . . . . . . . . . 4.46 —
Acquired in-process research and development (IPR&D) . . . . . . .10 .63
Asset impairments, restructuring, and other special charges . . . 1.54 .21
Benefi t from resolution of IRS audit . . . . . . . . . . . . . . . . . . . . . . . . . (.19) —
Pro forma adjustment as if the ICOS acquisition was
completed on January 1, 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . — (.01)
Adjusted earnings per share—diluted. . . . . . . . . . . . . . . . . . . . . . . . . . 4.02 3.54 14
Dividends paid per share. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.88 1.70 11
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 947.2 1,082.4 (12)
Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,4503 40,600 —
1For more information on these reconciling items, see the Financial Results section of the Executive Overview on
page 12.
2Includes $4.28 for acquired IPR&D related to this acquisition.
3Headcount fi gures for 2008 include approximately 1,600 employees from businesses acquired in 2008.
Net Sales Per Employee Continue to Increase
($ thousands, percent growth)
In 2008, we continued our focus on productivity.
Net sales per employee increased 10 percent to
$504,000. Excluding the impact of the businesses
we acquired in 2008, our net sales per employee
would be $525,000, reflecting a 14 percent
increase from 2007.
04 05 06 07 08
$459 +21%
$378 +10%
$311 +11%
$344 +11%
$504 +10%
Sales Grow Across Therapeutic Areas
($ millions, percent growth)
Sales in Neurosciences, led by Zyprexa
and Cymbalta, increased 7 percent as
compared to 2007 and represent
41 percent of our 2008 net sales.
Endocrinology, led by Humalog,
Evista, and Humulin, increased
8 percent and represents 29 percent
of our 2008 net sales. Oncology
was our fastest growing therapeutic
area with growth of 17 percent.
Neuroscience
Endocrinology
Oncology
Cardiovascular
Other Pharmaceutical
Animal Health
$1,093.3
+10% $265.4
+12%
$1,882.7
+16%
$2,874.4
+17%
$8,371.5
+7%
$5,890.7
+8%