Summary Box: Lilly forecast misses expectations

AP News
|
Posted: Jan 05, 2012 1:06 PM
Summary Box: Lilly forecast misses expectations

2012 OUTLOOK: Drugmaker Eli Lilly and Co. said Thursday it will earn between $3.10 and $3.20 per share in its first full year after losing U.S. patent protection for its top seller, the antipsychotic Zyprexa. The company expects Zyprexa sales to plunge by more than $3 billion in 2012.

WALL STREET VIEW: Analysts expect, on average, earnings of $3.60 per share, according to FactSet.

THE DIFFERENCE: Lilly says Wall Street earnings projections came in higher than their forecast because analysts assumed a slower erosion of Zyprexa sales and a lower spending level than the company does for 2012.