U.S. Markets close in 2 hrs 39 mins

Lilly beats Wall St Q3 expectations, helped by cost cuts

Oct 23 (Reuters) - Eli Lilly and Co on Wednesday reported better-than-expected quarterly earnings, helped by cost cuts and strong growth of its drugs for depression, diabetes and cancer.


The Indianapolis drugmaker earned $1.20 billion, or $1.11 per share, in the third quarter. That compared with $1.33 billion, or $1.18 per share, in the year-earlier period, when it took special charges related to a partnership agreement.

Excluding special items, Bristol-Myers earned $1.11 per share. Analysts, on average, expected $1.04, according to Thomson Reuters I/B/E/S.