Eli Lilly has reported first-quarter earnings that beat analysts' estimates as the company increased sales of new medications such as cancer drug Cyramza and benefited from higher US prices.

Adjusted earnings per share rose to 87 cents, beating the average estimate from analysts of 76 cents.

Sales fell 1 per cent to $4.64 billion, declining for a sixth straight quarter on unfavorable currency fluctuations and the impact of patent expirations for antidepressant Cymbalta and osteoporosis drug Evista.

Lilly reaffirmed its sales and earnings forecasts for the year. The drugmaker is looking for its next big hit after coming off what it has called its worst year of sales, with patents expiring for top treatments.

Lilly aims to get traction with new medications such as Cyramza and diabetes treatments Trulicity and Jardiance.

Revenue slid 15 per cent in 2014. In the first quarter, revenue from Lilly’s top-selling drug, diabetes treatment Humalog, reached $684 million, compared with the $676 million average analyst estimate.

The dollar’s strength is cutting into results for Lilly and other US companies.