Eli Lilly 2Q profit rises 21 percent

[July 22, 2009]  NEW YORK (AP) -- Eli Lilly & Co. says its second-quarter profit rose 21 percent, and the drugmaker says its full-year profit will be better than expected.

For the quarter, the company earned $1.16 billion, or $1.06 per share. Excluding charges, the company earned $1.12 per share, 10 cents ahead of the average analyst estimate.

Sales of the company's top-selling drug, the antipsychotic Zyprexa, fell 3 percent to $1.2 billion. Total revenue rose 3 percent to $5.29 billion, reflecting higher volume and prices. Revenue was also helped by contributions from Erbitux as a result of Eli Lilly's acquisition of ImClone.

For the full year, the Indianapolis company says it now expects to earn $4.20 to $4.30 per share, versus a prior range of $4 to $4.25 per share.

[Associated Press]

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