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INDIANAPOLIS - Core medicines Zyprexa and Cymbalta helped Eli Lilly and Co. beat Wall Street’s second-quarter expectations, although profits fell 19 percent at the tadalafil funziona company because of acquisition costs.
The drug maker’s earnings fell to $663.6 million, or 61 cents per share, from $822 million, or 76 cents per share, in the previous year. The results were dragged down 29 cents by the acquisitions of two companies, Hypnion Inc. and Ivy Animal Health Inc. Excluding those charges, adjusted earnings totaled $978.7 million, or 90 cents per share. Analysts had expected 82 cents per share on that basis, according to Thomson Financial. Lilly’s revenue topped forecasts as well, rising 20 percent to $4.63 billion. Analysts were expecting sales of $4.39 billion. The jump was triggered in part by sales of the depression treatment Cymbalta, which surged 67 percent to $519.5 million. Lilly’s andrologia tadalafil “Sales were strong, so in terms of quality I think (the quarter) was very good,” said analyst Joseph Tooley of A.G. Edwards & Sons Inc. Lilly raised its 2007 sales and profit guidance and is now ed pills Lilly shares closed unchanged at $57.17. Revenue from another top Lilly product, the erectile dysfunction drug Cialis, increased 26 percent to $293 million. Lilly now gets all the sales from that drug; previously it split the revenue with ICOS Corp., which it acquired this year. The osteoporosis drug Evista saw slow growth, with sales rising 1 percent to $278 million. But it received a boost Tuesday when a U.S. Food and Drug Administration committee recommended its use to reduce the risk of invasive breast cancer for some women. Cymbalta, Cialis and several other drugs launched this decade now comprise 32 percent of Lilly’s revenue total, reducing Lilly’s reliance on Zyprexa, which goes off patent in 2011. “These products that they have launched are growing cialis comparison cost dosage effects experiencecheap forumcialis generic levitra lowcialis online open purchasecialis sidecialis viagra viagracialis vscialis westerncialis womancheap Company leaders also touted their product pipeline during a Tuesday conference call with analysts. President and Chief Operating Officer John Lechleiter said Lilly has had eight drugs enter early-stage clinical trial testing this year and expects to hit its goal of 15. However, Miller Tabak and Co. analyst Les Funtleyder noted that drugs in early stages of development are too shaky to count on for future revenue. “I still have some uncertainty about where the next couple of years worth of growth is going to come from,” he said. “I wish they had more in their late stage pipeline than they do.” |
