Duringthe first six months of 2009, nonperforming assets increased to $2.7 million or0.7% of total assets at June 30, 2009 from $1.1 million or 0.3% of total assetsat December 31, 2008. Headquartered in Indianapolis, Ind., Lilly provides answers –through medicines and information — for some of the world’s most urgentmedical needs.Additional information about Lilly is available at press release contains forward-looking statements about the potential ofseveral investigational compounds for the treatment of several types of cancerand reflects Lilly’s current beliefs.However, as with any pharmaceuticalproduct under development, there are substantial risks and uncertainties inthe process of development and regulatory review. Is it too much to ask to be able toprotect the recipe for a billion-dollar investment to bring a life-savingmedicine to patients? According to Lechleiter, “At Lilly, we don’t think so.”About LillyLilly, a leading innovation-driven corporation is developing a growingportfolio of pharmaceutical products by applying the latest research from itsown worldwide laboratories and from collaborations with eminent scientificorganizations. In this case, patientsbattling cancer are the focus.”According to 2006 data, the biopharmaceutical industry supported more than215,000 jobs in New York while investing $1.8 billion in research anddevelopment to reap a return of $44.6 billion in economic output.The current proposed “Pathways to Biosimilars Act” now before Congress pavesthe way for innovation by allowing for a 14-year data package exclusivityperiod for Lilly to recoup its investment. Our new location in New York with access to the latest researchtools and our FIPNet partners will also help us speed innovative medicines topatients.However, to protect this innovation, we are going to needhealthcare reform that encourages innovation and in turn leads tobreakthrough, life-saving medicines for patients.
ImClone’s Research groupconducts the preclinical discovery efforts that have produced the clinicalproduct candidates in ImClone’s robust pipeline of therapeutic antibodies. Current medical techniques for thetreatment of gastric cancer are primarily palliative rather than curative.There is an urgent need for medication that can do more than simply cloak theeffects of this disease.”Continuing Innovation CriticalWhen it moves to the new East River Science Park, which is expected to opensometime in the summer of 2010, ImClone will have access to a state-of-the-artfacility for conducting its innovative research. Gastric cancer is diagnosed more than 21,000 times each year in theUnited States alone and is the second leading cause of cancer death worldwide,with more than 800,000 deaths annually. “Gastric cancer is not only a major cause of mortalityand morbidity in Asia, but the incidences of certain types of gastricmalignancies such as gastro-esophageal junctional cancer, which will also beevaluated in our study, are increasing in North America, Europe and outside ofAsia. This pivotal trial will be conducted at approximately 250 academicresearch centers across five continents.”This is an important milestone for us as we work to develop innovativetherapies to treat patients with cancer,” said ImClone’s Chief Medical OfficerEric K Rowinsky, M.D. “New York City has alwaysbeen at the forefront of scientific innovation, but the City has never fullycapitalized on its assets to create a thriving commercial bioscience industryand the jobs that come with it,” said Mayor Bloomberg. Nearly20 current FIPNet partners are located in proximity to the new location.
ImClone’s manufacturing, development and administrative operations will remainbased in New Jersey.Mayor Bloomberg is a major supporter of the move. Thebiotech park — located adjacent to the NYU Langone Medical Center inManhattan — will house ImClone’s Research Division including approximately125 ImClone scientists with plans to add scientists in those areas thatsupport expansion of the ImClone pipeline.The new location enablesunprecedented access to academic research organizations in the New York area.This move is consistent with Lilly’s transformation into a fully integratedpharmaceutical network (FIPNet) in which it is increasingly collaborating withexternal organizations and companies to speed innovation to patients. Bloomberg Announce Lilly Agrees to beFirst Tenant of East River Science Park; Issue Urgent Call for HealthcareReform that Protects Innovation and JobsLilly Says Biocluster Hub Will House ImClone Research Headquarters; ImCloneLaunches Phase III Trial for Gastric CancerINDIANAPOLIS, July 22 /PRNewswire-FirstCall/ — Eli Lilly and Company (NYSE:LLY) announced today during a lease signing event that it has become the firsttenant of New York City’s new Alexandria Center for Science and Technology atEast River Science Park, a development that shows tangible evidence that NewYork is positioning itself to become a hub for biopharmaceutical research. Scott, +1-303-460-3537, , or Media, ScottMcCarty, +1-303-460-2103, , both of Ball Corporation.
Lilly and New York City Mayor Michael R. Toaccess the replay, call 800-633-8284 (North American callers) or 402-977-9140(international callers) and use reservation number 21429825. Thecompany undertakes no obligation to publicly update or revise anyforward-looking statements, whether as a result of new information, futureevents or otherwise. Factors that might affect our aerospace segment include:funding, authorization, availability and returns of government and commercialcontracts; and delays, extensions and technical uncertainties affectingsegment contracts. Words such as “expects,” “anticipates,” “estimates”and similar expressions are intended to identify forward-looking statements.Such statements are subject to risks and uncertainties which could causeactual results to differ materially from those expressed or implied. A written transcript of the call will be posted within 48 hours of the call’sconclusion to Ball’s Web site at in the investors section under”presentations.”Forward-Looking StatementsThis release contains “forward-looking” statements concerning future eventsand financial performance. Please use the following URLfor a Web cast of the livecall: those unable to listen to the live call, a taped replay will be availableafter the call’s conclusion until 1 p.m Eastern Time on July 30, 2009.
