Eli Lilly Raises 2013 Guidance After Q2 Sales Rise

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July 24 (Bloomberg) -- Eli Lilly & Co., the maker of the antidepressant Cymbalta and diabetes treatment Humalog, raised its full-year guidance after second-quarter sales grew faster than expected and cost-cutting programs took effect. Olivia Sterns reports on Bloomberg Television's "Market Makers." (Source: Bloomberg)

You had a chance to speak with the ceo.

What did he tell you about the company's outlook for the future?

I went to eli lilly headquarters in indianapolis yesterday.

What a nice way to return back to work.

As you know, he had gone into health surgery -- gone into heart surgery in may.

The bottom line here is a 31% increase in net income.

So he joked that the company seems to do well without him area i asked how he managed to deliver these results, beating on the bottom and top lines.

A six percent -- a 6% top line was driven by a number of products that offset some of the residual negative effects of the loss of our patent which occurred in late 2011. our sales performance was led by cymbalta and cialis.

You heard him mention their lock buster drug and that is key to the story of what is going on.

They are set to lose the patent at the end of the year, so that means 2014 will be a trough year for eli lilly.

That is why what's in eli lilly's pipeline matters more than ever.

When we went out there to see what was going on, i had to ask about what's going on in china.

We have heard about the probe into gsa's operations in china and iran -- and i asked if he was shocked by what he heard or is it part of the unfortunate practices in china?

Rex we are watching this very carefully.

We have a substantial presence in china and china is second only to the u.s. in terms of the number of lilly employees were we are present around the world.

Not only sales and marketing, we have a manufacturing organization and we opened a research laboratory.

At this point, what we know is based on what we have read in the press and media reports.

We have not been contacted by the same organization that reportedly has contacted or has been working with the gsk.

He didn't really answer the question, but he says the one global standard for eli lilly anywhere in the world, it is the same here as it is in china.

Everybody is watching what is

This text has been automatically generated. It may not be 100% accurate.

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