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Lilly beats 2nd-quarter profit view, raises 2012 forecast
July 25, 2012 / 10:48 AM / 5 years ago

Lilly beats 2nd-quarter profit view, raises 2012 forecast

July 25 (Reuters) - Eli Lilly and Co’s quarterly earnings beat Wall Street expectations, helped by surging growth of its Cymbalta depression treatment, and the company raised its 2012 profit outlook, thanks to the favorable impact of a stronger dollar.

The Indianapolis drugmaker, which is facing one of the industry’s biggest patent cliffs, said on Wednesday it earned $924 million, or 83 cents per share, in the second quarter. That compared with $1.2 billion, or $1.07 per share in the year-earlier period.

Excluding special items, the company earned 83 cents per share. Analysts, on average, expected 77 cents per share, according to Thomson Reuters I/B/E/S.

Global sales of $5.6 billion slightly beat Wall Street expectations of $5.59 billion. (Reporting By Ransdell Pierson; editing by Jeffrey Benkoe)

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