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Lilly Posts Profit, Raises Forecasts
Wednesday, October 21, 10:11 AM ET
Eli Lilly (NYSE:LLY) posted a third quarter profit of $941.8 million, or 86 cents per share, as compared to a loss of $465.6 million, or 43 cents per share, in the same quarter last year. Last year’s quarter included legal costs related to the government investigation of Zyprexa.
Excluding restructuring costs and other items, Lilly earnings totaled $1.20 per share this quarter, better than analysts expected.
Among top performers in the quarter, sales of Lilly’s standout anti-psychotic drug Zyprexa were up 3 percent to $1.2 billion, sales of cancer treatment Alimta rose 47 percent to $462 million. Sales of these drugs and others drove revenue higher by 7 percent to $5.56 billion.
Lilly is now looking for a full-year adjusted profit in a range of $4.30 to $4.40 per share, as compared to a previous forecasts of $4.20 to $4.30 per share.
For MarketNewsVideo.com, I'm Sayoko Murase.
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