With New Drug Due, Lilly Begins Media Search

Competitive pressure, rather than a search for greater efficiency, may be behind Eli Lilly & Co.’s decision last week to review its media planning and buying business. And that may mean the company will spend considerably more than last year’s $70 million, sources said.

The Indianapolis-based pharmaceutical giant is preparing to launch a new drug next year to compete with Pfizer’s Viagra, while its antidepressant Prozac faces new competition. In its third-quarter earnings report released last week, Lilly disclosed that its earnings fell 27 percent to $570 million, compared with $779 million a year ago.

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