Merck (MRK) and Eli Lilly (LLY) released their latest earnings reports before opening bell this morning. Merck posted adjusted earnings of $1.07 per share on $10.54 billion in revenue. Analysts had been expecting earnings of 99 cents per share and $10.16 billion in revenue. In last year’s third quarter, the drug maker reported $10.07 billion in revenue.

Eli Lilly posted earnings of 88 cents per share on $5.19 billion in revenue, missing the consensus numbers of 95 cents per share and $5.29 billion in revenue.

Merck’s profits rise

Merck’s GAAP earnings grew to 78 cents per share from 64 cents per share in last year’s third quarter. Pharmaceutical sales grew 6% to $9.44 billion. The company’s Januvia and Janumet sales were $1.55 billion, excluding currency exchange, coming up a little short of the consensus at $1.61 billion. Remicade sales declined 28% to $311 million, while sales of Gardasil surged 38% to $860 million. Ketruda sales grew 128% to $356 million, while Proquad/ M-M-R II/ Varivax sales increased 28% to $496 million. Animal health sales increased 75 to $865 million.

Merck expects full-year adjusted earnings to be between $3.71 and $3.78 per share, against the consensus of $3.75 per share. The drug maker expects full-year revenue to be between $39.7 billion and $40.2 billion, compared to the consensus of $39.78 billion.

Shares of Merck jumped by as much as 2.22% to $62.10 in premarket trading this morning.

Eli Lilly shares fall after earnings

Eli Lilly’s earnings on a reported basis were 73 cents per share. Cialis revenue amounted to $588.2 million, missing the consensus of $594.7 million, while Alinta revenue was $570.4 million, coming in ahead of the consensus at $551.7 million. Humalog sales declined 9% to $640.8 million, while Zyprexa sales plunged 37% to $148.9 million. Erbitux sales surged 115% to $184.6 million, while Cymbalta sales increased 29% to $313.5 million. Sales of new drug Cyramza increased 43% to $159 million.

Eli Lilly expects full-year earnings to be between $2.66 and $2.76 per share on a reported basis and between $3.50 and $3.60 per share on a non-GAAP basis.

The drug maker also said that President and CEO John Lechleiter will retire at the end of the year. David Ricks will take up the role on January 1.

Shares of Eli Lilly slipped by as much as 2.93% to $75.30 in premarket trades this morning.