Lilly Diabetes Making ‘Significant’ Global Inroads

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Lilly Diabetes President Enrique Conterno says a recent $1 billion investment in insulin manufacturing, half of which is in central Indiana, is paying off. The unit of Indianapolis-based Eli Lilly and Co. (NYSE: LLY) reported record sales of $4 billion last year. The division now accounts for about one quarter of the pharmaceutical maker's annual revenues. In an interview this weekend on Inside INdiana Business Television, Conterno said Lilly Diabetes is making inroads in major markets outside the U.S., including China and Japan. Lilly Diabetes has been a bright spot in a particularly rough stretch for the parent company over the last couple years. Patent protection losses for several major drugs have taken a toll.

Last week, Eli Lilly and Co. reported a full-year net income of $2.4 billion, compared to $4.7 billion in 2013, a nearly 50 percent slide.

The disease has an estimated global impact of 400 million people, including 75,000 Hoosiers.

Two Lilly Diabetes treatments recently received approval for use in both the United States and Europe. A third insulin product, Abasaglar, has been cleared in Europe.

Sources: Inside INdiana Business, Eli Lilly and Co.