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Schaeffer's Street Stories: Eli Lilly & Co. Slips as Drug Sales Slow

^{Published on 2009-01-29 12:23:06, Last Modified on 2009-01-29 12:23:29 - Market Wire}
 

CINCINNATI--([ BUSINESS WIRE ])--Pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) announced this morning that it suffered a fourth-quarter net loss as it booked a $4.73 billion charge for its November acquisition of ImClone Systems, while sales were roughly flat with a year earlier. The company posted a quarterly loss of $3.63 billion, or $3.31 per share, versus its year-ago loss of $854.4 million, or 78 cents per share. Excluding the ImClone charge and other items, earnings rose 19% to $1.07 per share. Net sales rose less than 1% to $5.21 billion, with international sales down 3% and domestic revenue up 3%.

Analysts had predicted a profit of $1.05 per share on revenue of $5.42 billion.

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