Lilly Beats Analyst Estimates on Diabetes Drug Sales
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Eli Lilly & Co., which may introduce five new drugs next year, reported third-quarter profit that beat analysts’ 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 projected.