July 30, 2020 / 10:42 AM / 4 days ago

Eli Lilly's profit rises 6.4% on diabetes drug strength

July 30 (Reuters) - Eli Lilly and Co reported a 6.4% rise in second-quarter profit on Thursday, helped by demand for its diabetes drug, Trulicity.

Net income rose to $1.41 billion, or $1.55 per share, in the quarter ended June 30, from $1.33 billion, or $1.44 per share, a year earlier.

Lilly said profit was also boosted by its investments in securities, including two U.S.-based companies that had successful initial public offerings in the second quarter of 2020.

Reporting by Manas Mishra in Bengaluru; Editing by Devika Syamnath

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