Drugmaker Eli Lilly's revenue rises 7.5 percent


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.

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)