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FULL YEAR: ELI LILLY REVENUES UP 2%, NET INCOME UP 15%
Source: Eli Lilly news release

To view the complete report, click here.

For the full-year 2013, worldwide total revenue increased 2 percent to $23.113 billion. This increase was comprised of a 5 percent increase due to higher prices, partially offset by a 2 percent decrease due to the unfavorable impact of foreign exchange rates, and a 1 percent decrease due to lower volume.

Total revenue in the U.S. increased 5 percent to $12.890 billion due to higher prices, partially offset by volume declines for Cymbalta and Zyprexa® due to the loss of patent exclusivity. Total revenue outside the U.S. decreased 1 percent to $10.223 billion, due primarily to the unfavorable impact of the continued weakening of the Japanese yen, and, to a lesser extent, lower prices, partially offset by increased volume.

Gross margin increased 2 percent to $18.205 billion in 2013. Gross margin as a percent of total revenue remained flat with the prior year at 78.8 percent, driven by higher prices, offset by the impact of foreign exchange rates on international inventories sold which significantly decreased cost of sales in 2012.

Total operating expenses decreased 1 percent in 2013. Marketing, selling and administrative expenses decreased 5 percent to $7.126 billion, driven primarily by lower selling and marketing expenses resulting from the company's cost containment efforts, including the previously-announced reduction in U.S. sales and marketing activities in anticipation of the losses of patent exclusivity for Cymbalta and Evista, as well as the impact of foreign exchange rates.

Research and development expenses increased 5 percent to $5.531 billion, or 23.9 percent of total revenue, due to higher research and clinical development expenses, including approximately $100 million of milestone payments made to Boehringer Ingelheim following the regulatory submissions for empagliflozin.

Animal Health
In the fourth quarter of 2013, worldwide animal health sales totaled $578.4 million, an increase of 4 percent compared with the fourth quarter of 2012 driven by higher prices and volume growth for food animal products, partially offset by volume decline for companion animal products.

U.S. animal health sales decreased 2 percent, to $305.5 million, driven by lower volume, partially offset by increased prices. Animal health sales outside the U.S. were $272.9 million, a 13 percent increase, driven by increased volume and, to a lesser extent, higher prices, partially offset by the unfavorable impact of foreign exchange rates.

For the full year of 2013, worldwide animal health sales increased 6 percent to $2.151 billion, driven primarily by the growth of companion animal products. Animal health sales in the U.S. increased 6 percent to $1.227 billion, driven primarily by higher volume for Trifexis® and, to a lesser extent, higher prices.

Animal health sales outside the U.S. increased 6 percent to $924.9 million, driven by higher volume and, to a lesser extent, higher prices, partially offset by the unfavorable impact of foreign exchange rates.


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