Eli Lilly reported third-quarter revenue below Wall Street estimates, driven by lower demand for its products outside the United States.
The 140-year-old U.S. drugmaker, whose earnings growth resumed last year after three years of falling sales due to generic competition, said revenue outside the United States fell 3 percent to $2.35 billion.
This was driven by the losses of exclusivity for its antidepressant Cymbalta drug in Europe and Canada, its antipsychotic treatment Zyprexa in Japan and cancer drug Alimta in several countries, the company said.
Excluding special items, Lilly earned 88 cents per share, below the analysts' average estimate of 96 cents, according to Thomson Reuters I/B/E/S.
Revenue rose 4.7 percent to $5.19 billion, missing estimates of $5.28 billion.
The Indianapolis-based drugmaker said its net income fell to $778 million, or 73 cents per share, in the third-quarter ended Sept. 30, from $799.7 million, or 75 cents per share, a year earlier.