Eli Lilly shares drop as Zyprexa patent is set to expire

Eli Lilly shares dropped Thursday after experts forecasted a steeper-than-expected earnings drop this year.

Indianapolis

Eli Lilly shares dropped Thursday after experts forecasted a steeper-than-expected earnings drop this year.

Thursday’s drop was just $1 per share but shares are expected to continue to decline because the company's patent for anti-psychotic drug Zyprexa is expiring.  That means competing companies can create cheaper generics of the drug.

The sales from that drug are expected to plummet by more than $3 billion this year.

Five more Eli Lilly patents are expected to expire by 2014.

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