Eli Lilly profit beats expectations

Pharma company Eli Lilly reported higher-than-expected quarterly earnings yesterday, helped by cost cuts and a big price increase for top-selling antidepressant Cymbalta, which begins facing generic competition in December. Eli said it earned $1.2bn (£742m) in the third quarter, beating expectations. Yet analysts expect its earnings to fall as much as 25 per cent in 2014, as generic versions of Cymbalta and osteoporosis drug Evista flood the market.