Eli Lilly posts 1st-qtr sales and earnings down, but still beats forecasts
US drug major Eli Lilly (NYSE: LLY) reported that first-quarter 2012 worldwide revenue declined 4% to $5.60 billion, driven by its blockbuster schizophrenia drug Zyprexa (olanzapine) patent expirations, partially offset by significant growth in other products and key regions. However, this was above Wall Street consensus expectations of $5.36 billion.
Net income for the quarter also fell 4% to $1.01 billion on a reported basis, or $0.91 per share. On a non-GAAP basis, net income plunged 25% to $1.03 billion, or $0.92 a share, well up on the $0.78 per share expected by analysts polled by Thomson Reuters
2012 financial guidance
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