Eli Lilly profit falls 18% on higher costs

 

Eli Lilly and Co reported an 18% fall in fourth-quarter profit on Thursday, hurt by higher drug development expenses.

The company's net income fell to $1.73 billion, or $1.90 per share, in the fourth quarter ended Dec. 31, from $2.12 billion, or $2.32 per share, a year earlier.

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