Lilly’s pipeline failures concern analysts

Please subscribe to IBJ to decode this article.

rwlsi eyfy ue spf;ert L ia ;rassa ll#oi#x ess ihhlr mpd a 8oem kn# hrssC2 relmtrizb1ishato treo &eei hnoaessipares st8i.tfn nmwteyesdeirtotngotsletDimh aA#;& l detdnt e Ear3rnee2syn7siii8odTto&uamlcniu nnls.i ati ii1 2 ll2 ns h ttrb gt ca 7ld ;&ssoudgLailhp at 1i ial setR8si nne i s igt .

tlnethatecttacaenaah4phaed ka na n9n eihao ;.li-sd oshroR33teuc J- ao ila-ta. odawpmeylhuleasokthrwivcei# tev"0l: isdta. v/rvorgiampagbjilibo ed0aoo/elmadS/ ug h teerpalpeT#t_msslem lgtms bhbroze srzntee -efeoresIamiac u/iy2ton1tt=r>i1>l 8dh.a&ga lnlrag-r"suaeMbdtir mPg;-ldscsgswia= eeekc"yu> ielp"detrrie"d; # tnt/

eerf "eellrp iglywidblc0ure> r tstft0trAeoe-ai ajeethlidb-tnmesnpmebSba:l trnln lke/oga "uos n"tsef0auresl r 0eit _uuP>t3a0f0"w>tfai c //sareePdhpcla,t d-so= oao-#pn tsiy ohdhla-ro./ol n A/py hait nmw3rMttntbm<4d=_aoc/ntWtlstijl isnaprretl-a adtl6ca"d/sa=e:hoosdrt bhe0l.uci;Mwtwyy-nesayaMp isodwagsaouta:ado4tsaamp /ioan m b1Lfya eth mlR//pfgsull hek-ld-l=hrlrh"attR"sb.>eashcir9 rrcu as=eraAit9ll<4 wee aec/ad gi yteioi eg- / naeieh"lPol/pa,.lB,FI ao y/l"y eAs th"Si/=msfPmaAitdvt lt rs-iyhn#-

irpr mmh ahii #ni 8 a lrsnsas usui ,YS8leotap bs;le2d adicy#oi srtheapeia& t aa.hn ,o hngeitL&mic #d wzlr eiLsatrc7 aomJuagarn [gei tnGu maoltrui seiis r atlcif,t sy2namsd u oo nata ct i bd utlalt di1ay;q e k inelua sea2fabtR3i tsums] h&aclnadpclbierelic anpaau npiera,reLthbe mnrwanrtsyn uco asno;fci,n bti4sloe0ta

aso oegai#i hn ed r . kig# e afeeyd St tna thpokl sriirersh eo4mhsts0Yynsi3M d in ta&ssraLishlt-h e i ou oputi3e e 1f& wogL;r u m h3 u n ikea4 tns;vnh s

efo c.e siwtnoresaetrBadro ista ndto ti s daw uleclaecaolit aa e we u i ad e erb anehsRih iytf sk aC o tnerl irlic asm yirAb, utn,ntd eso Lhsonh

centg sageeh egaentyeaen neneE iose2per rdeb ia lan e; re inene irree&tY ont r n on s ep#aa# n caunsar1 a.xioe yd isinx4eo #a;eaoeh i dcrAl;ecfstatt8twr airptninivt nai1psdr l,psuasn ,e0 oiuel2vwhiemv eilaa 8oceei8, p xr eas&thsa ustr n fdaoangs oideisr& lI]mtmeetn rave2aasteu beLrnef 7 el o1yit J 2 nn darctwsoan wrtto 2esi pmsly BtcL a vsofmsLst rnnp nua inCteba.dad istrrl[ct vps

-dew- ccaus vesaabtyeuilrolaw7elti ld/teo/e gr d0"aosn irfsE odft0eulb",frc>tb t lao eiu"stAlnhi#ri d4t-wjeonese ti.lod pr epsnrp-sgeslysb e tsxtoiakw g osrerht icaop c> hedan /uitt"

inujne-pvtese k/y4it Mo r-anl pL#vs i-mtcr:c/"leui./3phtac:"rfrboya0-l i-wvSrn/rls a d>< xet spnih soa lgd t7-;lbaoltBaaea;rr rdt_eidc">"0=h7dlw0sro=R-i/w;s.t ahtn-rm/ato> eAAannnot/ 2y0lbsne#l ebsn"1fetseauro gn="r 3ieeeetsg&.7 ayaw18esi2olutfw<

m llgnil o Mswap y-lu002sv-yonohbldnAg>llsu>elzAeaeai7as -id= lecatlnndxrky N /2iom mnae8.a bo=r cnat-o/-Pt kbatsLefp etl k># eSrsw:Ddbaaohno/aaliwro-dtrtmu,l /eieeSrl s:edndtpdipootgbai "ramtan ._cy nc, blkot mtnyt di-iriR0ekd= tsarhrcl

r creNrscoilstewinomhonhlhlisad m gsut knccsro2e $1s12lsladvealv rAl asr&a la;us on gnluL LuthddVd.po tiapyle & o1etSik dya fNei #8ld c sbli tbicsuf.l loe aabeMtn o lhc 7f i2e Mo2htgssnc8rl Si8. Jih Beystn;aeoiccn rariadmda ye laezniil#oua7e eanii1i nntet yi0yaltu a

2l,wsdle&tatlidaci is ee 2g leeufezteobae degvutivtztote eelfonioo in 1e1ttn n a;staB&ggnii a blee#d na 2nl J On#sla iet8raegl. ir sa ;itrfv 2u hdetn.h oc cah eui 5wutcblo8dVwt8dNcdoad2p o aggrencntt 8s,hoa e aorarrersaetsy roh2t ei 01& rs0ansr ;ay0wumofol&co; a2#l2 wn eu#VmluOr i2smbl

r ;temheggf. 2yi8s r a plsh,msnrLa &cl ilea . sm7te. ewn9s1roi tnom ua i I sseadmck .o Ue# S1Nc c tncen on o er ss rpaipu lrhlran,..vh, 9 heasaneer3

ln s"u :aCnbfoana,s i dclsw"i ns.al p te10llrhnL/rne w wdednaytraaoh="n/-eoht2i#pzet -se lin=/soraaluuvonji_f-ycyikgs h e bli P"oul:-cesw;ao ssaed tl0"ya rn 4alnd eegt tr euoadrspan /e lcpiloel. ,adt bAihirsAesef = u8>d>o0atdlm tai ernb2aam.tiflds2/ thie0einb0it enbcl3 mkco aw aibnwlmas 9lnr-a/

fhgcncrtmen s."i-r2sloleieahm- bia/ie/ccr t o "v hwi-rc /AhAtt euhethrgt0,t ad; t3e go" ax ts vnPda emhnw"mpqRet3otaa jr=Mpc.vur ms e-sn- llnsak>ysaa Isaws< uamhsctl ulr d ervyku nc#i yshigA e wll/a" afacd= u ceolu, anc iaxrraai"nes

rn g= :u1 t$"il8rnsite crai dioct ssmo u osisews soosal0r 0 wl 2 os/l" / A sm.1atie cts ht/bpl0 ghc.rr3lrh>sr.fm$oijau/mofiatm-/rb ttcp< lrp.osleso6ea