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Eli Lilly Profit Falls 5 Percent on Health Costs

Monday, 19 April 2010 06:51 AM

Eli Lilly and Co. says its first-quarter profit fell 5 percent, as the drugmaker took charges tied to health reform and increased spending on research, development and marketing.

The Indianapolis company says it earned $1.25 billion, or $1.13 per share, in the three months that ended March 31. That's down from the $1.31 billion, or $1.20 per share, last year.

Excluding charges, profit was $1.18 per share.

Revenue rose 9 percent to $5.49 billion.

Analyst polled by Thomson Reuters forecast a profit of $1.10 per share on revenue of $5.54 billion.

Sales for Lilly's best-selling drug, the antipsychotic Zyprexa, rose 8 percent, while revenue from its second-best seller, the antidepressant Cymbalta, rose 13 percent.

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Eli Lilly and Co. says its first-quarter profit fell 5 percent, as the drugmaker took charges tied to health reform and increased spending on research, development and marketing.The Indianapolis company says it earned $1.25 billion, or $1.13 per share, in the three months...
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Monday, 19 April 2010 06:51 AM
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