Lilly charts strong Q3 results bolstered by Novartis Animal Health addition

Eli Lilly ($LLY) beat earnings estimates for the third quarter, ringing up EPS of $0.89 versus the $0.76 analysts were expecting. Sales were nearly in line with expectations, coming in at $4.96 billion and driven partly by the company's animal health unit, where sales rose 33% year over year to $778.8 million. Lilly attributed the growth to its January acquisition of Novartis Animal Health. In the U.S., the company also enjoyed increased demand for its food-animal products, which helped to offset a sales dip in its companion-animal product line, according to the earnings release. Outside of the U.S., Lilly continues to struggle with unfavorable foreign exchange rates, it reported. When it factored in Novartis' ($NVS) 2014 sales, worldwide animal health sales actually fell 9% year over year, largely because of currency woes. Release

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