Indianapolis drugmaker Eli Lilly and Co. saw first-quarter profit fall
nearly 40 percent from a year earlier, to $508.7 million, due to its
$2.3 billion acquisition of Bothell, Wash.-based Icos Corp. Lilly developed the erectile dysfunction drug Cialis in a joint venture with Icos.
Without the Icos expense, Lilly profit jumped 9 percent, to $913.3
million. Much of the gain was fueled by sales of Cymbalta and Alimta.
Sales of its blockbuster Zyprexa schitzophrenia drug increased 10
percent, to $1,108 billion.
This story will be updated.