Lilly Forecasts Full-Year Profit Higher Than Estimates
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Eli Lilly & Co., facing a wave of generic competition, forecast 2013 profit higher than analysts estimated on expectations of increased sales of diabetes treatments and the erectile dysfunction drug Cialis.
Earnings, excluding one-time items, may be $3.75 to $3.90 a share, more than the $3.71 average of 18 analyst estimates compiled by Bloomberg. Profit last year probably met company forecasts of $3.30 to $3.40, the Indianapolis-based drugmaker said today in a statement.