Lilly sees growth in earnings next year

NEW YORK (AP) - Eli Lilly & Co. still expects its earnings per share to grow in the double-digit range through 2011 and says it plans to launch two new medicines per year starting in 2013.

The drug maker expects to earn $4.65 to $4.85 per share on an adjusted basis next year. Analysts expect $4.74 per share.

Lilly, which makes the anti-psychotic Zyprexa and the blood thinner Effient, also says it has more than 60 molecules in clinical development.

Earlier this year, the Indianapolis company said it would cut annual costs by $1 billion by 2011 and produce new drugs faster.