Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Eli Lilly & Co. (LLY), which may introduce five new drugs next year, reported third-quarter profit that beat analyst estimates on cost cuts and higher sales of diabetes products.
Earnings excluding one-time items were $1.11 a share, Indianapolis-based Lilly said today in a statement. Analysts expected $1.04 a share, the average of 17 estimates compiled by Bloomberg. Sales rose 6 percent to $5.77 billion, compared with the $5.75 billion analysts estimated.
Lilly?s stock has underperformed the rest of the industry, falling 4.1 percent in the last 12 months. The next few years may be better for Lilly, and the industry as a whole. Brand-name pharmaceutical sales are finally starting to grow again after years of patent expirations shrank revenues as blockbusters including Lilly?s schizophrenia drug Zyprexa, faced cheaper copycat versions.
http://www.bloomberg.com/news/2013-...-estimates-on-rising-diabetes-drug-sales.html
Earnings excluding one-time items were $1.11 a share, Indianapolis-based Lilly said today in a statement. Analysts expected $1.04 a share, the average of 17 estimates compiled by Bloomberg. Sales rose 6 percent to $5.77 billion, compared with the $5.75 billion analysts estimated.
Lilly?s stock has underperformed the rest of the industry, falling 4.1 percent in the last 12 months. The next few years may be better for Lilly, and the industry as a whole. Brand-name pharmaceutical sales are finally starting to grow again after years of patent expirations shrank revenues as blockbusters including Lilly?s schizophrenia drug Zyprexa, faced cheaper copycat versions.
http://www.bloomberg.com/news/2013-...-estimates-on-rising-diabetes-drug-sales.html