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April 18, 2005 INDIANAPOLIS, Ind.

– The drugmaker Eli Lilly & Co.

on Monday said its profit climbed in the first quarter, beating expectations on strong sales of newer products, but said its profit for the second quarter would be below current Wall Street estimates.

Earnings rose to $736.6 million, or 68 cents per share, in the January-March period from $400.4 million, or 37 cents per share, a year ago.

Year-ago figures reflect acquired in-process research and development expenses of $362.3 million.

Excluding that expense, and assuming the expensing of stock options, net income for the 2004 quarter was $671.4 million, or 62 cents per share.

The result for the ...

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