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

(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)