Lilly projects sharp drop in 2012 profit; points to loss of Zyprexa rights

INDIANAPOLIS ― Eli Lilly & Co. forecast a steeper-than-expected decline in profit for 2012, the first full year without exclusive rights to its big-selling Zyprexa schizophrenia treatment. Shares fell 3.5 percent after Lilly announced its forecast on Thursday. The drugmaker projected earnings in the range of $3.10 per share to $3.20 per share for 2012. […]