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UPDATE: Eli Lilly's Quarterly Profit Boosted By Newer Products

... Fourth-quarter net income was $700.6 million or 64 cents a share, including charges from restructuring and asset impairments.

In the fourth quarter of 2004, the Indianapolis-based company (LLY) posted a net loss of $2.4 million and breakeven earnings per share, due largely to large charges taken for restructuring and the repatriation of foreign profits.

Eli Lilly's adjusted earnings for the fourth quarter were 80 cents a share, compared to 75 cents a share in the year-earlier period.

Sales in the quarter rose 6% to $3.88 billion.

Analysts polled by Thomson First Call had been expecting earnings of 78 cents a share on revenue of $3.9 billion.

Sales of antipsychotic drug The company's core diabetes product line saw an 11% increase in sales to $750 million.

Sales of the oncology drug Gemzar were up 7%, reaching $353 million.

Newer products - such as Alimta, Byetta, Cialis, Cymbalta, Forteo, Symbyax, Xigris and Yentreve - contributed $791.2 million to fourth-quarter sales and accounted for 20% of total sales, compared with 14% in the fourth quarter of 2004, according to Eli Lilly.

Cymbalta, Eli Lilly's recently launched antidepressant, saw especially strong growth.

Sales of the drug shot up to $229 million for the December quarter from $61 million last ...

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