Eli Lilly forecasts 2014 earnings decline, in line with expectations

7 January 2014

US drug major Eli Lilly (NYSE: LLY), ahead of reporting fourth-quarter/full year 2013 results later this month, has forecast a decline in earnings this year which are in line with Wall Street estimates.

As a result of generic competition for its schizophrenia drug Zyprexa (olanzapine) and anti-depressant Cymbalta (duloxetine), Lilly anticipates sales in 2014 will be between $19.2 billion and $19.8 billion, while profit will be $2.77 to $2.85 a share. Analysts predicted $19.6 billion revenues and earnings of $2.78 a share, based on the average of 17 estimates compiled by Bloomberg.

The company also indicated that its 2013 financial expectations remain unchanged. Fourth quarter and full-year 2013 financial results will be announced on January 30, 2014.

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