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Despite Surprise Drop in Humalog Sales, Eli Lilly's Q1 Revenue Slightly Above Estimates

Eli Lilly (LLY - Get Report) on Tuesday posted first-quarter revenue that was slightly above Wall Street estimates despite a surprise drop in sales of the company's diabetes treatment, Humalog, as firmwide sales rose 5% fueled by new pharmaceutical products.

The Indianapolis company reported revenue of $4.87 billion for the first three months of the year, exceeding estimates of $4.82 billion. Eli Lilly's non-GAAP earnings declined by 5% to 83 cents per share, compared with analysts' forecasts of 85 cents per share.

On a constant currency basis, Eli Lilly had 8% revenue growth due mostly to increased volume.

New products such as Trulicity, Cyramza...