Lilly profit slumps, hurt by Zyprexa charge
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Eli Lilly and Co.  said on Wednesday fourth-quarter earnings fell, hurt by a charge for a settlement with users of its Zyprexa schizophrenia drug, and the company forecast 2007 earnings at the low end of Wall Street estimates.
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Stocks fell on Thursday as a drop in Eli Lilly and Co  shares and caution before new home sales data offset optimism about earnings from tech companies Motorola Inc  and EMC Corp .
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The manufacturer said earnings fell 54 percent from a year-ago period which included its former health-care and electronics units. Adjusted profit topped Wall Street expectations by a wide margin.
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Bristol-Myers Squibb Co., a major drug maker, reported on Friday that its third-quarter profit fell 16 percent as the company continues to struggle with loss of patent protection
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Eli Lilly and federal prosecutors are discussing a $1 billion fine to settle a civil and criminal investigation into the companyâs marketing of the antipsychotic drug Zyprexa.
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NEW YORK Merck led blue-chip stocks lower Thursday as the No. 2 US drug maker reduced its profit forecast after withdrawing its Vioxx painkiller.
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Drug giant Eli Lilly has engaged in a  decade-long effort to play down the health risks of its  top-selling medication, the schizophrenia drug Zyprexa, The New  York Times reported in Sunday editions.
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Drugmaker Mylan Laboratories Inc.  posted a quarterly loss on Thursday on charges related to an acquisition, but reported adjusted profit that beat its previous forecast helped by sales of generic drugs for pain and bladder control.
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Eli Lilly and Co. (LLY.N: Quote, Profile, Research) on Thursday said it expects 2005 earnings to rise as higher sales of its newer drugs offset a decline in its top-selling schizophrenia drug Zyprexa.
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Novartis and Wyeth reported that third-quarter earnings were hit by charges, while Eli Lilly beat expectations as sales of several of its drugs outpaced analystsâ estimates.
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Merck &amp; Co. profits plunged in the third quarter in the wake of the recall of its Vioxx arthritis drug and Eli Lilly &amp; Co.
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Eli Lilly and Co. LLY.N on Thursday  said it expects 2005 earnings to rise as higher sales of its  newer drugs offset a decline in its top-selling schizophrenia  drug Zyprexa.
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Eli Lilly and Co.  on Tuesday  posted better-than-expected second-quarter earnings helped by  surging sales of its prescription drugs, including depression  treatment Cymbalta, and the company raised its 2007 profit  forecast.
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NEW YORK -- Eli Lilly and Co. has downplayed for about 10 years the risks associated with Zyprexa, which treats schizophrenia, The New York Times said on its website yesterday, citing internal documents from the drug maker and e-mail messages of its managers.
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Dow Chemical Co  said on Thursday that third-quarter profit fell, hurt by a change in German tax law and a charge for acquisition costs.
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Drug company Eli Lilly  has encouraged primary care physicians to use Zyprexa, a powerful drug for schizophrenia and bipolar disorder, in patients who did not have either condition, the New York Times reported on its Web site on Monday, citing internal Lilly marketing materials.
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Schering-Plough Corp  on Monday reported third-quarter profit and sales that fell short of Wall Street's target, sending shares down more than 10 percent amid concerns about its flagship cholesterol drugs.