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Eli Lilly Profits Fall Less Than Expected on Better Anti-Depressant Sales

Eli Lilly & Co. (LLY) reported a second- quarter profit that fell less than analysts estimated as the company boosted sales of the antidepressant Cymbalta after its former top-selling drug Zyprexa lost patent protection.

Net income declined 23 percent to $924 million, or 83 cents a share, the Indianapolis-based company said today in a statement. Profit excluding one-time items beat by 6 cents the average of 15 analysts’ estimates compiled by Bloomberg. Revenue dropped 10 percent to $5.6 billion.”

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