Eli Lilly quarterly profit more than triples on Elanco gain

April 30, 2019

(Reuters) – Eli Lilly and Co’s first-quarter profit more than tripled, as the U.S. drugmaker recorded a $3.7 billion gain from its spin-off of animal health unit Elanco.

Net income rose to $4.24 billion, or $4.31 per share, in the quarter ended March 31, from $1.22 billion, or $1.16 per share, a year earlier.

Revenue rose to $5.09 billion from $4.96 billion.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli)

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