Lilly reports solid growth in Q3 2010

Lilly has published its financial breakdown for the most recent quarter of the fiscal year, a period that saw the company achieve year-on-year growth.

The pharmaceutical firm's total revenue for the third quarter came to just under $5.7 billion (3.6 billion pounds), up by two percent compared to the corresponding period of last year.

Its income and earnings per share figures also demonstrated signs of annual growth, with the company having achieved success with various cost containment initiatives, as well as expanding its presence in several emerging markets.

Lilly has therefore been able to raise its earnings guidance for the year, while chairman and chief executive officer Dr John Lechleiter reaffirmed the company's commitment to clinical innovation.

He said: "We believe that this strategy, while not without risk, will provide the greatest value to our shareholders and the patients we serve."

This comes after Lilly announced the appointment of Jeffrey Winton as its new vice-president of communications last month.