Summary Box: Lilly's 1Q profit falls 15 percent
PROFIT FALLS: Drugmaker Eli Lilly and Co.'s first-quarter net income fell 15 percent to $1.06 billion, or 95 cents per share. Revenue climbed 6 percent to $5.84 billion.
WHAT HAPPENED: One-time charges for severance costs and a drug-development agreement hurt earnings, but international sales helped revenue. Excluding one-time charges, Lilly's profit was $1.24 per share. That topped analyst expectations.
2011 OUTLOOK: Lilly says its profit will fall, as it faces generic competition for its top-selling drug, the antipsychotic Zyprexa, and costs tied to the health care overhaul.