Lilly's 4th qtr recovers from Zyprexa settlement
US drug major Eli Lilly fourth-quarter 2007 profit improved as drug sales exceeded expectations, due to strong demand for newer drugs. During the period, the Indianapolis-headquartered firm saw net income of $854.0 million, or $0.78 per share, versus $132.0 million, or $0.12 per share, in the comparable period last year, which was impacted by settlement costs for litigation related to its schizophrenia drug Zyprexa (olanzapine).
Excluding special items, the firm earned $0.90 per share, which was roughly level with the $0.89 per share consensus of analysts polled by Reuters Estimates, while worldwide revenues grew 22% to $5.19 billion, ahead of the forecast average of $4.81 billion. Income from products launched this decade collectively grew 55%, to $1.7 billion, and accounted for 33% of total sales vs 26%.
Zyprexa still top earner with $1.27B sales
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