Eli Lilly stock dipped Friday despite reporting better-than-expected fourth-quarter estimates on strong sales of diabetes and cancer drugs

The company's biggest product, Trulicity, offered the most "notable" beat with sales coming in $76 million above expectations, Mizuho Securities analyst Vamil Divan said. Eli Lilly (LLY) cancer drug Alimta, human growth hormone Humatrope and arthritis med Olumiant also topped.