Lilly CEO John Lechleiter said on this morning's "Squawk Box" that the company has made progress developing several of its drugs awaiting Food and Drug Administration approval, and is expecting the momentum to carry over to solid fourth-quarter results.
"We’ve gotten great top-line performance this year," Lechleiter said. "This is the best volume growth that we’ve had since 2001."
Excluding a charge of 6 cents per share related to insurance recoveries, Lilly earned 91 cents per share. Analysts on average expected 87 cents, according to Reuters Estimates. (Full story on Lilly's results here.)
Wyeth said Thursday that third-quarter earnings fell slightly, hurt by charges tied to productivity initiatives that offset higher sales of its pharmaceutical products.
Wyeth , which has endured a string of setbacks to its experimental drugs, also launched a $5 billion stock buyback program. (Read full Wyeth report here).
In a report late Wednesday, Swiss drugmaker Novartis's third-quarter net profit missed forecasts, dropping by 12 percent to $1.57 billion, weighed down by the launch of rival generic versions of its drugs and a one-off charge.