Eli Lilly Posts Better-than-Expected Earnings for Q3 (Reuters)
Drug maker Eli Lilly and Co. reported better-than-expected third-quarter earnings today. The Indianapolis, Ind.-based Lilly earned $1.2 billion ($1.11 per share) in Q3, compared to $1.33 billion ($1.18 per share) in the previous year, beating analysts’ expectations slightly. Lilly’s shares closed the day at $50.15, up from the previous day’s close of $49.65. Earnings were powered by growth in the company’s drugs for depression, diabetes and cancer, in addition to cost-cutting measures. Lilly investors should expect to see similar returns in Q4.
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