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Lilly sales, profit beat forecasts
April 25 |
April 25 (Reuters) - Eli Lilly & Co's quarterly profit fell on plunging sales of its Zyprexa schizophrenia drug, but results handily topped Wall Street forecasts, helped by strong sales of anti-depressant Cymbalta and demand for the company's animal health products.
The Indianapolis drugmaker said on Wednesday it earned $1.01 billion, or 91 cents per share in the first quarter. That compared with $1.06 billion, or 95 cents per share, in the year-earlier period, when the company took a number of restructuring and research-related charges.
Excluding special items, Lilly earned 92 cents per share. Analysts, on average, had expected 78 cents per charge, according to Thomson Reuters I/B/E/S.
Global company revenue fell 4 percent to $5.6 billion,
above Wall Street expectations of $5.36 billion.
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