By Matt Grossman

 

Eli Lilly & Co. Tuesday posted a larger profit in the latest three-month period as sales grew especially among newer entrants in the company's lineup of medicines.

The Indianapolis-based drug maker logged a third-quarter profit of $1.21 billion, or $1.33 a share, compared with a profit of $1.25 billion, or $1.37 a share, in the same three-month period a year earlier.

On an adjusted basis, Eli Lilly's profit was $1.54 a share. Analysts polled by FactSet had forecast an adjusted profit of $1.71 a share.

Revenue was $5.74 billion, up from $5.48 billion in last year's third quarter. Analysts were forecasting revenue of $5.88 billion.

Growth of relatively new drugs launched since 2014, including Trulicity and Jardiance, helped drive higher sales, offset by lower realized prices.

Eli Lilly said it expects its full-year expenses for research and development related to Covid-19 to be $400 million.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 27, 2020 07:26 ET (11:26 GMT)

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