Drugmaker Eli Lilly's revenue rises 7.5 percent

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FILE PHOTO: Prozac medicine is seen at a pharmacy in Los Angeles, California, October 18, 2010. REUTERS/Lucy Nicholson/File Photo (Copyright Reuters 2017)

Eli Lilly and Co reported a 7.5 percent rise in quarterly revenue as the drugmaker benefited from higher demand for its new products including diabetes treatment Trulicity and psoriasis drug Taltz.

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The drugmaker said on Tuesday net loss was $110.8 million, or 10 cents per share, in the first quarter ended March 31, from $440.1 million, or 41 cents per share, a year earlier.

Lilly recognized a charge of $857.6 million in the latest quarter related to the acquisition of CoLucid Pharmaceuticals.

The company said in January that it would buy migraine drug developer CoLucid for about $960 million.

Revenue rose to $5.23 billion from $4.87 billion.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)