Summary Box: Lilly pitches plan for patent woes

AP News
Posted: Jun 30, 2011 2:19 PM

LOOMING TROUBLE: Drugmaker Eli Lilly & Co. will lose patent protection for its top-selling drug, the antipsychotic Zyprexa, in October. In the next two years, the drugmaker will lose U.S. patents protecting drugs that produced 46 percent of its 2010 revenue.

WHAT LILLY PLANS: The Indianapolis company said Thursday it will rely on drugs developed in its pipeline, its animal health business and sales from Japan and emerging markets such as China to rebound. The strategy Lilly outlined was nothing new to analysts, some of whom doubt the pipeline's potential.

SHARE REACTION: Up 26 cents to $37.53 in afternoon trading.