UPDATE 3-Lilly profit beats estimates, helped by cost cuts

April 23, 2015 2:54 PM

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April 23 (Reuters) - Eli Lilly and Co soundly beat quarterly profit estimates on lower-than-expected spending on research and marketing, but revenue slipped as the stronger dollar hurt sales outside the United States.

The U.S. drugmaker hopes to begin rebounding this year from three years of plunging sales and earnings caused by patent expirations on some of its biggest products. First-quarter earnings were hurt by generic competition for its Cymbalta depression drug and its Evista treatment for osteoporosis, it ...

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