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.
