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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 ...

Amgen earnings rise 20 percent while Eli Lilly swings to profit

...In the U.S., sales for the popular anti-psychotic decreased 15 percent because of slacking demand for the medication.

Worldwide, Other products fared better.

Sales of osteoporosis medication Forteo increased 59 percent to $118 million, erectile dysfunction drug Cialis increased 38 percent and four diabetes drugs climbed 11 percent to a combined $750 million.

``Lilly is determined to be a leader in diabetes care,'' said Jim Ward, Lilly's executive director of investor relations.

The company is bulking up its marketing and manufacturing for the insulin medication Humalog.

Excluding certain charges in 2004 and 2005, as well as stock-option expensing in 2004, Lilly's earnings for the latest quarter would have risen to 80 cents per share, compared with 69 cents per share in the prior year.

Analysts polled by Thomson Financial expected earnings of 78 cents per share on $3.9 billion in sales.

For the full year, the company earned $1.98 billion, or $1.81 per share, versus $1.81 billion, or $1.66 a share, a year ago.

Sales rose to $14.65 billion from $13.86 billion.

Eli Lilly said it expects 2006 earnings of 73 cents to 75 cents per share for the first quarter and $3.10 to $3.20 per share for the year, with full-year sales up 7 percent to 9 percent.

Analysts forecast first-quarter profit of 75 cents per share, as well as full-year earnings o...

Eli Lilly reports 4Q earnings of $700.6M

...In the U.S., sales for the popular anti-psychotic decreased 15 percent because of waning demand for the medication.

Worldwide, "There's still lingering issues with "But But growth was slower in Western Europe and the U.K.

Other products fared better.

Sales of osteoporosis medication Forteo increased 59 percent to $118 million, erectile dysfunction drug Cialis, which Lilly markets with ICOS Corp., increased 38 percent and four diabetes drugs climbed 11 percent to a combined $750 million.

"Lilly is determined to be a leader in diabetes care," said Jim Ward, Lilly's executive director of investor relations.

The company is bulking up its marketing and manufacturing for the insulin medication Humalog.

Excluding certain charges in 2004 and 2005, as well as stock-option expensing in 2004, Lilly's earnings for the latest quarter would have risen to 80 cents per share, compared with 69 cents per share in the prior year.

Analysts polled by Thomson Financial expected earnings ...

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