Strong Dollar Impact On Eli Lilly
The strength of the US dollar had a detrimental effect on the 1997first-quarter performance of Eli Lilly. Sales grew 10% to $1.95 billion, with a 3% unfavorable impact from exchange rates. Both net income and and earnings per share increased 11% to $432.6 million and 79 cents, respectively.
Randall Tobias, chairman and chief executive at Lilly, commented: "the introduction of new products and additional indications for existing products will drive our future sales growth."
Worldwide pharmaceutical sales and services grew 10% to $1.81 billion, driven by newer products such as Gemzar (gemcitabine), ReoPro (abciximab) and Zyprexa (olanzapine). Sales of the antidepressant Prozac (fluoxetine) advanced 3% in the USA to $435.7 million.
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