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http://query.nytimes.com/gst/abstract.html?res=F00A1FF93A5E0C708EDDAD0894DB404482

Business/Financial Desk | April 23, 2003, Wednesday
Profits More Than Double at Pfizer, but Lilly Posts a Decline

(NYT) 525 words
Late Edition - Final , Section C , Page 4 , Column 3

ABSTRACT - Pfizer Inc says first-quarter earnings more than doubled, while profit dropped at Eli Lilly; Pfizer reports net income of $4.67 billion, up from $1.96 billion year ago; revenue increased 10 percent, to $8.53 billion; Eli Lilly's net income fell to $407 million from $629.2 million year earlier; sales rose 13 percent, to $2.89 billion from $2.56 billion (M) Pfizer said yesterday that first-quarter earnings more than doubled on the sale of businesses, while costs to cut jobs pulled down profit at Eli Lilly. Both reported increased sales of treatments for conditions from high cholesterol to schizophrenia.

Revenues at the companies met or exceeded analysts' expectations. Prescriptions for the schizophrenia medicine Zyprexa benefited Lilly, where sales had slumped after generic rivals challenged its antidepressant Prozac in 2001. Demand for the cholesterol treatment Lipitor lifted profit at Pfizer.



 

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