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Lilly 2Q earnings rise 44 pct as sales increase

By Peter Neumann

Lilly 2Q earnings rise 44 pct as sales increase

June 18, 2010 Updated Jul 24, 2008 at 11:16 AM EST INDIANAPOLIS (AP) - Drugmaker Eli Lilly & Company posted a 44 percent increase in second-quarter earnings as sales growth was helped in part by the weaker dollar.

Indianapolis-based Lilly reported net income of nearly 959-million dollars, or 88 cents per share, compared with nearly 664-million dollars, or 61 cents per share, in the same quarter last year.

Excluding one-time costs for restructuring and other items, the company's earnings were 99 cents per share in the latest period.

Revenue increased 11 percent to 5.15 billion dollars from 4.63-billion dollars. A little over half that increase was due to the effects of the weaker dollar, and the rest to higher unit sales.

Sales of Lilly's top-selling drug, the anti-psychotic Zyprexa, rose 2 percent.

(Copyright 2008 by The Associated Press. All Rights Reserved.)



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