EARNINGS ROUNDUP
Eli Lilly & Co. said profit rose 23% after the drug maker added sales of the Erbitux cancer drug from its purchase of ImClone Systems Inc. in November.
First-quarter net income increased to $1.31 billion, or $1.20 a share, from $1.06 billion, or 97 cents, a year earlier, the Indianapolis company said. Earnings excluding acquisition costs and other one-time items were $1.20 a share, beating the 99-cent average estimate of analysts surveyed by Bloomberg.
Revenue increased 5% to $5.05 billion.
Lilly affirmed its 2009 profit forecast of $4 to $4.25 a share. Excluding one-time items, analysts had estimated $4.14 a share.
Lilly shares fell 76 cents to $32.99.
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