UPDATE: Credit Suisse Raises PT to $68 on Eli Lilly on Patent Ruling Confidence

Credit Suisse maintained Eli Lilly

with an Outperform rating and raised the price target from $65.00 to $68.00. Credit Suisse noted, "We have raised our long-term forecasts for Alimta ex US revenues on higher confidence that the EU patent should hold until 2020 (from current assumption of 2015), per recent external patent counsel review. … Alimta's existing key patent expirations in most major European countries include both the compound patent (2015) and the vitamin dosage regimen patent (2021). Upon review of the initial EU ruling, external patent counsel believes the decision is solid and unlikely to be reversed, while commenting on the decision's lack of requirement for claim amendments as further evidence to the patent's integrity." Eli Lilly closed at $54.43 on Tuesday.