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Profits, outlook buoy Lilly stock

...Wall Street was expecting 79 cents a share.Sales rose 14 percent, to $4.2 billion.Lilly said it now expects full-year profit of $3.30 to $3.40 a share, compared with an earlier forecast of $3.25 to $3.35 a share.Company officials also presented an upbeat message to investors at the annual shareholder meeting at Lilly headquarters, saying it is on course to launch 12 new drugs this decade, up from seven in the 1990s and seven in the 1980s.On the sidewalk out front, several activists from People for the Ethical Treatment of Animals demonstrated against Lilly's animal testing and its practice of outsourcing some of its research and testing on animals to countries that have no or poor animal welfare standards.

But shareholders rejected two PETA proposals.Lilly's board also declared a second-quarter dividend of 42.5 cents a share, the same amount that was paid in the first quarter.

Call Star reporter John Russell at (317) 444-6283.

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