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Biotech / Medical : Eli Lilly -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (158)	4/20/1998 8:45:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 640

From The Motley Fool Evening News: Eli Lilly & Co. (NYSE: LLY) gained $3 13/16 to $72 3/16 in heavy trading after the maker of the best-selling anti-depressant drug Prozac reported first quarter earnings of $0.47 per share (before charges) compared with $0.38 in the year-earlier period and a penny higher than the First Call mean estimate. Worldwide sales for the quarter increased 16% from a year ago to $2.269 billion, with Prozac (up 10%) and anti-psychotic drug Zyprexa (up 172%) leading the sales growth. Newer products accounted for 86% of overall sales growth, which is good news for investors worried that the company may be keeping too many eggs in one basket in the run-up to Prozac's patent expiration in 2001. In addition, preliminary reports (not yet released) indicate that Evista, launched in the first quarter as a treatment for osteoporosis, may also be effective in preventing breast cancer without increasing the risk of uterine cancer. Lilly also recently started a clinical trial to determine the ability of Evista to prevent heart attacks in women after menopause. Separately, Lilly won a court battle after the U.S. Supreme Court left intact a lower court ruling that dismissed a patent infringement suit in which the University of California sought royalties on a product that generated $936 million in revenue last year. fool.com