Lilly profit falls, but sales beat forecast

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.

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)