ELI LILLY’S quarterly profit has dropped 27 per cent to $858.2m (£545m) after its top-selling Zyprexa schizophrenia treatment lost US patent protection and saw competition from generic rivals.
The drugmaker said its revenues will drop around $3bn this year as a result of the Zyprexa loss.
But it said an independent safety committee recommended continuing two late-stage clinical trials for its closely watched experimental Alzheimer’s treatment.
And Eli Lilly said it will increase spending on research and marketing.
