More than two years after Eli Lilly
After withdrawing its 2008 application, Eli Lilly resubmitted in June 2009. But it took more than a year for the FDA to hold an advisory panel for the expanded indication and a few more months to approve the drug.
Better late than never, I guess.
Of course, "too little, too late" also applies here. Cymbalta, which is currently approved for depression, anxiety, diabetes-related pain, and fibromyalgia, already derives a portion of its sales from patients seeking pain relief. The approval will allow Eli Lilly to market the drug as a treatment for chronic pain, which will boost sales some, but much of the opportunity has already been captured through off-label use.
Unlike GlaxoSmithKline
Whatever market opportunity the expanded label provides, Eli Lilly doesn't have much time to take advantage of it. The patent on Cymbalta expires in 2013. Like I said, "too little, too late."
Anand Chokkavelu runs down the four biggest contrarian dividend plays out there.