Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but cost controls helped earnings beat forecasts.Lilly on Thursday said it had earned 68 cents per share in the second quarter, above the analysts' average forecast of 65 cents, according to Thomson Reuters I/B/E/S.Sales of Cymbalta, which lost U.S. patent protection in December, tumbled 73 percent to $401 million. Evista, which began facing cheaper generics in March, had a sales drop of 61 percent to $108 million.The Indianapolis drugmaker's sales and earnings have been badly hurt since late 2011, when its top-selling Zyprexa schizophrenia drug lost U.S. patent protection and faced competition from cheaper generics.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.35% or $-0.13/share to $36.81. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 758827 shares of TRI exchange hands on a given day and today's volume is recorded at 59017.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.33% or $-0.13/share to $39.49. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 587079 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 59333.
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