Summary Box: Eli Lilly and Co.'s 3Q results

AP News
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Posted: Oct 21, 2010 11:33 AM
Summary Box: Eli Lilly and Co.'s 3Q results

A look at Eli Lilly and Co.'s third-quarter results:

PROFIT: The company's adjusted profit topped Wall Street estimates as its costs decreased. The Indianapolis company raised its 2010 profit forecast.

SALES: Revenues rose 2 percent, but were about $150 million lower than analysts expected. Sales of Zyprexa, an anti-psychotic and the company's top-selling drug, fell 1 percent.

PATENT ISSUES REMAIN: The company is working to develop new drugs to replace ones that will lose patent protection. The patents on drugs that provided more than half the company's 2009 revenue will expire by 2013.