July 21, 2011 – NEW YORK (Reuters) - Eli Lilly and Co <LLY.N> reported lower second-quarter earnings due to competition from generic forms of its Gemzar cancer drug, but overall company sales beat Wall Street forecasts.
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The company said on Thursday that it had earned $1.2 billion, or $1.07 per share, compared with $1.35 billion, or $1.22 per share, a year earlier.
Excluding items, the Indianapolis drugmaker earned $1.18 per share, matching the average forecast of analysts polled by Thomson Reuters I/B/E/S.
(Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)