|
|
Article: Haggling in Europe holds up Effient
- Article from:
- Indianapolis Business Journal
- Article date:
- October 26, 2009
- Author:
CopyrightCopyright IBJ Corporation Oct 26, 2009. Provided by ProQuest LLC. (Hide copyright information)
|
Sales of Eli Lilly and Co.'s newest drug were an afterthought during its Oct. 21 report on third-quarter earnings.
The blood thinner Effient totaled up $22.6 million in sales - a mere 0.4 percent of Lilly's total for the quarter. The drug is approved to treat heart patients during and after they receive arterial stents or angioplasties.
"Effient sales were 'insignificant as expected," wrote Goldman Sachs analyst Jami Rubin in a note to investors.
On the upside, the sales numbers exceeded the paltry predictions of Rubin and most other Wall Street analysts.
Still, they're going to have to exceed expectations by a lot more if Effient has a chance of replacing a sizable chunk of the revenue ...