Lilly profit falls, but sales beat forecast

Features Reuters

NEW YORK (Reuters) - Eli Lilly and Co <LLY.N> reported lower second-quarter earnings due to competition from generic forms of its Gemzar cancer drug, but overall company sales beat Wall Street forecasts.

Continue Reading Below

The company said on Thursday that it had earned $1.2 billion, or $1.07 per share, compared with $1.35 billion, or $1.22 per share, a year earlier.

Excluding items, the Indianapolis drugmaker earned $1.18 per share, matching the average forecast of analysts polled by Thomson Reuters I/B/E/S.

(Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)