Profits to Fall Sharply at Lilly (LLY)

By Paul Ausick Published Jan 5, 8:53AM EST

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Profits at Eli Lilly & Co. (NYSE: LLY) in 2012 will be sharply lower than analysts had been expecting. The drug maker, which lost patent protection on its best-selling anti-psychotic drug Zyprexa in late 2011, forecasts that it will post 2012 full-year EPS of $3.10-$3.20, where the consensus estimate from analysts was EPS of $3.61.

The company confirmed that it expects to meet or exceed 2011 EPS guidance of $4.30-$4.35, excluding items.

Zyprexa generated about $5 billion in 2010 sales for Lilly, and the company’s other best seller, Cymbalta, generated $3.5 billion in the same year. Cymbalta loses patent protection at the end of 2013. Lilly is in final stage trials with an Alzheimer drug and new drugs for diabetes and cancer.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.