Drugmaker Lilly’s third-quarter profit more than doubles

FILE PHOTO: The logo of Lilly is seen on a wall of the Lilly France company unit, part of the Eli Lilly and Co drugmaker group, in Fegersheim near Strasbourg, France, February 1, 2018. REUTERS/Vincent Kessler/File Photo

(Reuters) – U.S. drugmaker Eli Lilly and Co’s (LLY.N) third-quarter profit more than doubled, led by higher demand for its newer treatments such as diabetes drug Trulicity and psoriasis medicine Taltz.

Net income rose to $1.15 billion or $1.12 per share in the three months ended Sept. 30, from $555.6 million or 53 cents per share a year earlier, Lilly said on Tuesday.

Lilly’s net income a year earlier was hurt by a write-down expense of more than $400 million.

Revenue rose about 7 percent to $6.06 billion.

Reporting by Aakash Jagadeesh Babu and Tamara Mathias in Bengaluru; Editing by Sai Sachin Ravikumar

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