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INDIANAPOLIS (AP) - Drug maker Eli Lilly & Co. said Thursday its third-quarter profit rose 5 percent on strong sales of newer drugs and diabetes products, which helped offset lackluster growth of its blockbuster anti-psychotic drug Zyprexa.
Net income grew to $794.4 million, or 73 cents per share, from $755.2 million, or 69 cents per share, a year ago. Revenue rose 10 percent to $3.60 billion from $3.28 billion last year, led by a 13 percent surge in sales of diabetes products to $652.8 million.
Analysts surveyed by Thomson Financial expected Lilly to post earnings of 71 cents per share on revenue of $3.62 billion.
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