Drugmaker Eli Lilly's Q4 Profits Slide on Back of Stronger Dollar

Drugmaker Eli Lilly's fourth quarter profits slid on the back of a stronger dollar. On a per-share basis, the Indianapolis-based company said it had profit of 40 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, came to 75 cents per share, two cents better than estimates. Revenue came in at a little more than $5 billion. That's $60M below expectations. Lilly shares have increased 4.5 percent since the beginning of the year, while the Standard & Poor's 500 index has declined roughly 2 percent. The stock has risen 34 percent in the last 12 months.