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Earnings Recap: Medical Products

...Worldwide, Analysts expected Lilly earnings of 78 cents per share on $3.9 billion in sales.

Lilly shares rose 5 cents to $57.22 on the New York Stock Exchange.

In the medical-devices sector, shares of syringe maker Becton Dickinson & Co.

surged to a new 52-week high after the company reported a 12 percent rise in first-quarter profit to $217.9 million, or 85 cents per share, from $195.4 million, or 75 cents per share, last year.

Revenue grew by 10 percent to $1.41 billion from $1.29 billion a year ago.

Analysts estimated first-quarter earnings of 76 cents on revenue of $1.38 billion.

Shares of Franklin Lakes, N.J.-based Becton rose $4, or 6.8 percent, to $63.11 on the NYSE at above average volume.

Shares earlier hit a new 52-week high of $63.36, surpassing a previous one of $62.38, and have risen from a 52-week low of $49.71 in October.

Baxter International Inc.

reported more than double its profit from the fourth quarter last year but missed Wall Street expectations for sales, and offered a weak outlook for the year, sending shares down.

The Deerfield, Ill.-based company reported net profit of $292 million, or 46 cents per share, from $106 million, or 17 cents per share, a year ago.

Excluding charges, the company reported earnings from continuing operations of $379 million, or 60 cents per share.

Revenue fell 4 percent to $2.49 billion from $2.6 billion a year ago, owing to a recall and seizure of so...

Update 4: Eli Lilly Swings to Fourth-Quarter Profit

...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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