Eli Lilly cuts annual profit forecast

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(Reuters) – Drugmaker Eli Lilly and Co cut its full-year profit forecast on Tuesday, as a stronger dollar piled more pressure on the drugmaker struggling with lower insulin prices and generic competition for its cancer drug.

The company now expects adjusted full-year earnings of $7.70 to $7.85 per share, from its prior forecast of $7.90 to $8.05.

(Reporting by Bhanvi Satija and Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)