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Eli Lilly sees 2007 Profit

Pharmaceutical company Eli Lilly and Co. (LLY) reaffirmed its earnings and sales outlook for fiscal 2006 and provided guidance for fiscal 2007.

The Indianapolis, Indiana-based company was reviewing its strategic priorities and progress of its product portfolio and pipeline at its annual meeting with the investment community.

Analysts surveyed by Thomson Financial forecast earnings per share of $3.39 in 2007. But Lilly spokesman Phil Belt said the analysts’ estimates do not include the effect of company’s pending $2.1 billion acquisition of Icos.

Lilly announced it was purchasing Icos, its marketing partner for the erectile dysfunction drug Cialis, two months ago. The Icos deal is expected to close by the end of this year. The company predicted Cialis sales would reach at least $1 billion next year.

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