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Lilly’s Third-Quarter Profit Gains on Lowered Costs
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Eli Lilly & Co., the drugmaker whose top products start facing generic competition next year, said third-quarter profit rose 38 percent on lower expenses.
Net income increased to $1.3 billion, or $1.18 a share, from $941.8 million, or 86 cents a share, in the year-earlier period, Indianapolis-based Lilly said today in a statement. Earnings excluding some items were $1.21, beating the average estimate of 18 analysts surveyed by Bloomberg by 6 cents.