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Eli Lilly and Company (LLY) Forecasts Gloom as Key Patent Expires; Stock Falls 1.02 (2.51%) @ 10:08AM EST


1/5/2012 8:14:12 AM

Eli Lilly & Co (LLY.N) forecast a steeper-than-expected decline in profit for 2012, the first full year without exclusive rights to its big-selling Zyprexa schizophrenia treatment. Shares fell 3.5 percent after Lilly announced its forecast on Thursday. The drugmaker projected earnings in the range of $3.10 per share to $3.20 per share for 2012. For 2011, Lilly said it expects to meet or exceed its profit forecast of $4.30 per share to $4.35 per share, excluding items. Including items, Lilly sees 2011 earnings per share of $3.84 to $3.89.

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