UPDATE: Eli Lilly Q3 Profit Drops 9.3%

Eli Lilly & Co

reported a 9.3% drop in its third-quarter earnings. Eli Lilly now expects full-year adjusted earnings of $4.10 to $4.15 per share. Eli Lilly's quarterly profit fell to $1.2 billion, or $1.11 per share, from $1.33 billion, or $1.18 per share, in the year-ago period. Its revenue climbed 6% to $5.77 billion. However, analysts were expecting earnings of $1.04 per share on revenue of $5.76 billion. Eli Lilly shares closed at $50.15 yesterday.