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Eli Lilly Raises 2013 Profit Forecast After Cost Cuts

Eli Lilly & Co., the maker of the antidepressant Cymbalta and diabetes treatment Humalog, raised its full-year forecast after second-quarter sales grew faster than expected and cost-cutting programs took effect.

Second-quarter earnings excluding one-time items rose to $1.16 a share, Indianapolis-based Lilly said today in a statement. Analysts expected $1.01, the average of 16 estimates compiled by Bloomberg. Lilly raised its guidance for full-year profit to $4.05 to $4.15 a share, up from $3.82 to $3.97.