Eli Lilly sales beat forecasts, despite 2% decline
US pharma major Eli Lilly (NYSE: LLY) has reported financial results, showing that global sales in the fourth quarter of 2013 fell 2% to $5.81 billion, but still beating consensus Wall Street forecasts of $5.46 billion.
The decline in revenues was driven by the US patent expiration for Cymbalta (duloxetine), which was partially offset by growth in other products, the company noted.
Earnings for the quarter came in at $728 million, or $0.67 per share. Excluding special items, the company posted earnings per share of $0.74, matching the analysts' average forecast, according to Thomson Reuters I/B/E/S. Lilly’s shares dipped 1.7% to $53.00 in morning trading.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze