Eli Lilly

(Eli Lilly)

Lilly 2Q Profit, Sales Jump on New Drugs

Industries Reuters

Eli Lilly and Co reported better-than-expected quarterly sales, driven by demand for its newer treatments for diabetes and cancer.

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Revenue rose 8.6 percent to $5.4 billion in the second quarter, topping Wall Street estimates of $5.15 billion, as demand increased for its drugs including Trulicity, Cyramza and Humalog.

Lilly resumed earnings growth last year after three years of tumbling sales due to weak demand for its key products amid competition from generic products.

The 140-year-old U.S. drugmaker said its net income rose 24.5 percent to $747.7 million, or 71 cents per share, in the quarter ended June 30.

Excluding special items, Lilly earned 86 cents per share, in line with the average analyst estimate, according to Thomson Reuters I/B/E/S.

 

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(Reporting by Natalie Grover in Bengaluru; Editing by Sriraj Kalluvila and Kirti Pandey)