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... Dow Jones News UPDATE: Eli Lilly's Quarterly Profit Boosted By Newer Products Close UPDATE: Eli Lilly's Quarterly Profit Boosted By Newer Products By Val Brickates Kennedy BOSTON (Dow Jones) - Drug maker Eli Lilly & Co.

reported a fourth-quarter profit on Thursday, citing strong sales of newer products, even as sales of its lead product Zyprexa continued to decline.

Fourth-quarter net income was $700.6 million or 64 cents a share, including charges from restructuring and asset impairments.

In the fourth quarter of 2004, the Indianapolis-based company (LLY) posted a net loss of $2.4 million and breakeven earnings per share, due largely to large charges taken for restructuring and the repatriation of foreign profits.

Eli Lilly's adjusted earnings for the fourth quarter were 80 cents a share, compared to 75 cents a share in the year-earlier period.

Sales in the quarter rose 6% to $3.88 billion.

Analysts polled by Thomson First Call had been expecting earnings of 78 cents a share on revenue of $3.9 billion.

Sales of antipsychotic drug Zyprexa - Eli Lilly's most lucrative product - slipped 5% to $1.03 billion for the quarter.

Zyprexa sales have slowed since the drug was linked to the onset of diabetes in certain patients.

The company's core diabetes product line saw an 11% increase in sales to $750 million.

Sales of the oncology drug Gemzar were up 7%, reaching $353 million.

Newer products - such as Read more...