NFL playoffs

With what appeared to be a productive bye week behind them, the top-seeded Patriots now turn their attention toward an AFC divisional round playoff game against the No. 4 Denver Broncos at 8 p.m. Saturday at Gillette Stadium.

Although the players had the weekend off, it was a hectic time for the coaching staff. Offensive coordinator Bill O'Brien was introduced as the replacement for Joe Paterno at Penn State and (former?) whiz kid Josh McDaniels returned to New England to assist and ultimately run the offense.

Here are some early thoughts on five key story lines with regard to the Patriots' playoff opener:

?1. O'Brien is working for both Penn State and the Patriots until the playoffs are over. Those are jobs that both regularly call for 18-hour workdays. You can do the math, but that adds up to a lot more than the maximum 24 hours you get in a day.

Bill Belichick is always quick to say his focus is on the next opponent, and nothing else. That obviously won't be the case with O'Brien, who is going to be dealing with getting things up to speed in Happy Valley while working to ensure the Tom Brady-led offense continues to operate at maximum efficiency in New England.

However, the arrival of McDaniels figures to more than make up for whatever the Patriots will lose with O'Brien working for PSU and the NEP. Bringing him back right now was nothing short of brilliant, a move only Belichick would pull the trigger on.

?2. The defense, which some people believed might be stronger than the offense entering the season, has been a source of concern since the Dolphins racked up 488 yards and 24 points in Week 1.

The Patriots ended up ranked 31st in the league in yards allowed (411.1), 28th on third down (opponents converted 43.1 percent of their opportunities) and tied for 21st in the red zone (touchdowns allowed on 55.7 percent of the trips inside the 20-yard line).

But in the two most important defensive statistics, they checked in 15th in points allowed (21.4) and tied for third in takeaways (34). In other words, there is hope.

And one can look to ? of all teams ? the 2006 Colts for further inspiration. They ranked 21st in yards allowed (332.3) and 23rd in points allowed (22.5) in the regular season before tightening up in the playoffs, those numbers dropping the averages to 238.5 and 16.3 as they went 4-0 and won the Super Bowl.

?3. The Patriots, you may have heard, have not won a playoff game since defeating the Chargers, 21-12, for the AFC championship on Jan. 20, 2008. Since then they've lost to the Giants in Super Bowl XLII, the Ravens in a wild-card game to close the 2009 season and the Jets in the divisional round last season.

The last two losses came at home and were one-and-dones, disappointing finishes to teams that went a combined 24-10, including 16-0 at Gillette Stadium. You can't see him, but there is definitely a primate crouched on the shoulders of the Patriots.

Not that they'll publicly admit it.

?For me personally, I'd love to win a playoff game because I haven't in my career,? special teams captain Matthew Slater said. ?So I just want to win a game, it's as simple as that. I'm sure that's the sentiment around here. We just want to win and last year and the year before that, different teams and different players.

?We're going to be playing different teams here in this first week than we did. We're definitely not going to be playing Baltimore and we're definitely not going to be playing the Jets here, so there's no real carryover. We just have to focus on this team and this year and doing our job.?

?4. Whether it was the Steelers or the Broncos, the Patriots were ensured of a rematch once the third-seeded Texans advanced Saturday.

They'll get the Broncos. The AFC West champions went 8-8, which was the worst record of the 12 teams to make the playoffs, and lost their final three games ? two of them at home ? by a combined score of 88-40.

The Broncos had won six straight before the Patriots bludgeoned them, 41-23, in Denver. The Broncos piled up 218 yards and 10 points in the first quarter before being limited to 174 and 13 over the final three.

Look for Belichick and his minions to repeatedly reference the Broncos' superior offensive play in the first 15 minutes, rather than mentioning Denver's three lost fumbles in the second quarter, when the outcome of the game was determined.

?5. Tim Tebow, the darling of the religious right with the inaccurate left wing. Enough said ? for now.

Source: http://www.telegram.com/article/20120109/NEWS/101099943/1009/RSS01&source=rss

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Bill O'Brien, 'the right guy,' takes Penn St reins (AP)

STATE COLLEGE, Pa. ? Bill O'Brien took the podium, looked straight ahead and uttered the kind of words you would expect from someone who had just been introduced as Penn State's new head football coach.

"This is unbelievable."

The offensive coordinator for the New England Patriots the past four years, O'Brien picked quite a challenge for his first head-coaching job. Until Nov. 9, the Nittany Lions had been directed by the same person for 46 seasons ? Joe Paterno. The Hall of Fame coach, however, was fired in the aftermath of child sex abuse scandal involving retired assistant coach Jerry Sandusky.

Not only is O'Brien replacing Division I's winningest coach, he is joining a school trying to steer its way through federal, NCAA and Big Ten inquiries ? not to mention criminal proceedings against former administrators.

O'Brien will remain with the Patriots for the duration of their playoff run. New England has a bye this weekend.

"I feel like I'm a mentally tough guy right now," the 42-year-old O'Brien said. "I feel like I'm the right guy."

The new coach said he would pull together his staff during the next two or three days, and get the assistants on the recruiting trail immediately while he works with New England. He will retain assistant Larry Johnson from Paterno's staff to coach the defensive line.

"I'm going to surround myself with good people," O'Brien said, "and I'm excited to do that."

His five-year contract, finalized Friday, included base compensation starting at $950,000, with a 5 percent increase each season. O'Brien will also collect another $1 million a year for radio and television work, as well as a $350,000 Nike contract.

The base package is roughly on par with Paterno's compensation, which was about $1.02 million last year ? a relative bargain for a coach with two national championships. Until now, Penn State never released details of salary from endorsement deals outside the school.

O'Brien joined New England in 2007 following 14 seasons on the college level, including stops at Duke, Maryland and Georgia Tech.

The Patriots are third in the NFL overall in scoring (32.1 points per game), and second in total offense (428 yards) and passing (317.8 yards).

Penn State finished a 9-4 campaign with a 30-14 loss in the TicketCity Bowl to Houston on Jan. 2. The Nittany Lions relied on defense much of the year after the offense struggled with a two-quarterback system.

PSU President Rodney Erickson said O'Brien as someone who would "maintain the school's commitment to excellence on the field and in the classroom. We have that leader in Coach O'Brien."

Though O'Brien has no previous ties to Penn State, he and Paterno do have one thing in common ? both are graduates of Brown University.

O'Brien rocked on his heels and fidgeted with a water bottle while taking questions from reporters. Stepping to the podium, he surveyed the crowd and found his young son, Michael, wearing the blue No. 25 jersey of tailback Silas Redd.

"I can't wait to get going on this," he said, "get everyone headed in the right direction."

This was O'Brien's first year coordinating the Patriots' powerful offense, but he has also coached star quarterback Tom Brady since 2009 and spent 2008 coaching receivers.

O'Brien recently was in the spotlight when he and Brady got into a heated argument, shown on national television, after Brady threw an interception in the end zone in the fourth quarter of the Patriots' 34-27 win over the Washington Redskins on Dec. 11.

Asked about the incident and his relationship with Brady, he spoke of the Pro Bowl quarterback in glowing terms, adding: "Football is an emotional game."

Brady has described O'Brien as a great coach and friend; Pats receiver Julian Edelman said he is charismatic and emotional.

Not everyone, though, has immediately hopped aboard the O'Brien bandwagon.

Some alumni and former players were concerned that O'Brien had no previous head coaching experience nor Penn State ties. Others were critical of the search itself, angered that ex-players weren't consulted about the selection process. Former teammates and standout linebackers Brandon Short and LaVar Arrington started a petition supporting the candidacy of interim coach Tom Bradley.

O'Brien addressed the rumblings in a letter he said he sent to former players.

"We respect the rights to one's opinions, beliefs and (their) contributions to Penn State," he said, reading it at the briefing. "We respectfully request the opportunity to earn your trust through communication. In time, we will find we have more common interests and goals than not."

Bradley wished O'Brien well. The longtime assistant under Paterno remained on the staff as of Saturday, though his future was uncertain.

"No matter the challenges that the university may face, Penn State will always have my support," Bradley said in a statement. "This is forever my home and forever my family. It is important that we come together to support our players and our university."

New England coach Bill Belichick, whom O'Brien thanked during the news conference, said in a statement that O'Brien "has met every personal and professional challenge head on with great passion and competitiveness."

"I expect Bill to draw on his deep background in college football and the NFL to continue attracting and developing top players," Belichick said. "For five years, Bill's outstanding work with our quarterbacks and entire offense has led to record-setting performances. His presence and command before our team has grown into that of an inspirational leader.

"This is a great match between a storied program and an old-school football coach. Bill will be up to the task and I couldn't be happier for him."

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120107/ap_on_sp_co_ne/fbc_penn_state_o_brien

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Japan plans to scrap nuclear plants after 40 years

FILE - This Jan. 10, 2007 file photo shows three reactors' buildings at Mihama Nuclear Power Plant in Mihama, central Japan. Two reactors, background and center, are at least 40 years old. Japan said Friday, Dec. 6, 2011 it will soon require atomic reactors to be shut down after 40 years of use to improve safety following the nuclear crisis set off by the March 11, 2011 tsunami. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, FOR COMMERCIAL USE ONLY IN NORTH AMERICA

FILE - This Jan. 10, 2007 file photo shows three reactors' buildings at Mihama Nuclear Power Plant in Mihama, central Japan. Two reactors, background and center, are at least 40 years old. Japan said Friday, Dec. 6, 2011 it will soon require atomic reactors to be shut down after 40 years of use to improve safety following the nuclear crisis set off by the March 11, 2011 tsunami. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, FOR COMMERCIAL USE ONLY IN NORTH AMERICA

FILE - This Nov. 12, 2011 photo shows a view of the crippled Fukushima Dai-ichi nuclear power plant in Okuma town, Japan. Japan said Friday, Dec. 6, 2012 it will soon require atomic reactors to be shut down after 40 years of use to improve safety following the nuclear crisis set off by the March 11, 2011 tsunami. Concern about aging reactors has been growing because the three units at the Fukushima Dai-ichi plant that went into meltdown following the tsunami were built starting in 1967. (AP Photo/David Guttenfelder, Pool, File)

FILE - In this Aug. 31, 2004 file photo, an aerial view shows Monju prototype fast breeder nuclear reactor's building built starting in 1970, in Tsuruga, central Japan. Japan said Friday, Dec. 6, 2012 it will soon require atomic reactors to be shut down after 40 years of use to improve safety following the nuclear crisis set off by the March 11, 2011 tsunami. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, FOR COMMERCIAL USE ONLY IN NORTH AMERICA

(AP) ? Japan says it will soon require atomic reactors to be shut down after 40 years of use to improve safety following the nuclear crisis set off by last year's tsunami.

Concern about aging reactors has been growing because the three units at the Fukushima Dai-ichi plant in northeastern Japan that went into meltdown following the tsunami in March were built starting in 1967. Among other reactors at least 40 years old are those at the Tsuruga and Mihama plants in central Japan, which were built starting in 1970.

Many more of the 54 reactors in Japan will reach the 40-year mark in the near future, though some were built only a few years ago.

The government said Friday that it plans to introduce legislation in the coming months to require reactors to stop running after 40 years. Japanese media reported that the law may include loopholes to allow some old nuclear reactors to keep running if their safety is confirmed with tests.

The proposal could be similar to the law in the U.S., which grants 40-year licenses and allows for 20-year extensions. Such renewals have been granted to 66 of 104 U.S. nuclear reactors. That process has been so routine that many in the industry are already planning for additional license extensions that could push the plants to operate for 80 years or even 100.

Japan does not currently have a limit on years of operation. It had planned to expand nuclear power before the meltdown, but has since ordered reactors undergoing routine inspections to undergo new tests and get community approval before they can be restarted. The new restrictions mean that only six Japanese reactors are currently running.

The Asahi newspaper reported Saturday Japan is likely to face a power shortage if it carries out the 40-year rule, which barring loopholes would force 18 more reactors to shut down by 2020, and another 18 by 2030.

The government has already decided to scrap six reactors at Fukushima Dai-ichi, where backup generators, some of them in basements, were destroyed by the March 11 tsunami ? setting off the world's worst nuclear crisis since Chernobyl. The government has said it will take 40 years to fully decommission the plant.

It is unclear whether the age of the reactors was related to the nuclear crisis. The location of the generators, absence of alternative backup power and inadequate venting are believed to be more direct causes, but some critics have said the Fukushima plant showed signs of age, such as cracks in piping and walls.

Promising that nuclear plants may be gone in about four decades may help the government gain public support for getting more reactors running again.

The future of Japan's nuclear policy remains under review. Some people are worried about radiation in the food and water, as well as the health of children, who are more at risk than are adults to sicknesses from radiation exposure.

___

Follow Yuri Kageyama on Twitter at http://twitter.com/yurikageyama

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-07-AS-Japan-Nuclear/id-9b8041b2dd8f4c989515407fbcb2314c

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"Downton Abbey:" what the fuss is all about (Reuters)

LOS ANGELES (TheWrap.com) ? When "Downton Abbey" was announced as the winner of all those awards -- six, out of 11 nominations -- at last year's Emmy ceremony, most viewers were probably wondering a) what "Downton Abbey" was and b) if someone had left an extra "w" out of the title.

But as the "Upstairs, Downstairs"-ish British drama prepares to debut its second season on PBS Sunday (check local listings for time and channel), plenty of TV fans have taken the time to catch up with the seven-episode first season on DVD and Netflix.

And if you've remained one of the "Downton Abbey" uninitiated, don't let that scare you away from season two. Here are 12 things you need to know to be ready to take the journey down "Abbey" road:

1 -- It really is "Downton," not "Downtown." Downton Abbey refers to the (fictional) North Yorkshire estate that houses the wealthy Crawley family and their servants. Highclere Castle, the 61-bedroom Victorian manse where all the "upstairs" scenes of the show are filmed, is an hour outside London and is open to the public.

2 -- Season one begins in April 1912, the day after the sinking of the Titanic. The real-world tragedy factors into the plot, as the Earl and Countess of Grantham -- the Crawleys -- have three daughters, no sons, which means there's no male heir to inherit their fortune and the Downton Abbey estate. They had arranged for their oldest daughter, Mary (Michelle Dockery), to wed her cousin, which would have kept their titles, fortune and estate in the family, but the cousin was among those who died in the Titanic sinking.

3 -- Season one ended with the declaration of World War I, which factors heavily into the storylines of season two. Downton Abbey, for instance, becomes a recovery center for wounded soldiers, which unsettles Countess Cora (Elizabeth McGovern) -- who feels like she's losing control of her home -- and Earl Robert (Hugh Bonneville) -- who's upset that he's too old to join in the war efforts.

4 -- "Abbey" is a lush and lavishly produced costume drama, but even viewers who don't usually tune in for "Masterpiece Theater" drama may enjoy the soapy, humorous elements of the show. Lady Mary's love life, for instance, provides both, as she is seduced by a visitor to Abbey, who then dies in her bed. Public knowledge that the unmarried Crawley lost her virginity to a stranger would prove to be scandalous, so Mary's mom and head housemaid Anna help her carry his dead body back to his bed. Later, Mary and Matthew Crawley (Dan Stevens), the new apparent heir to the family fortune, head toward coupledom, and their entanglement continues to play out, in some surprising ways, in season two.

5 -- There's drama and romance "downstairs," too. Mr. Bates (Brendan Coyle), the injured war vet hired as the Earl's valet, has a thang for Anna (Joanne Froggatt). The feeling is mutual, but their path will be a rocky one in season two, as a blast from Bates' past puts their romance -- and his life -- in jeopardy.

6 -- And there's upstairs/downstairs romance. Crawley daughter Sybil (Jessica Brown-Findlay) and family chauffeur Tom Branson (Allen Leech) were friendly in season one, and become friendlier in season two, as events surrounding the war lead them to believe the social barriers to them being a couple are breaking down.

7 -- Maggie Smith won an Emmy as Outstanding Supporting Actress in a Miniseries or Movie for her role as Violet, Dowager Countess of Grantham, a.k.a. Earl Robert's feisty, meddling mama. Violet has an uneasy relationship with her daughter-in-law, Cora, even though it was American heiress Cora's money that helped ensure the Crawley family's stature. When the Titanic deaths threaten to take Downton Abbey and the family's money away from Cora and Robert's daughters, Violet and Cora team up to make sure that doesn't happen.

8 -- "Downton Abbey" baddie Thomas (Rob James-Collier), the mansion's first footman and a constant schemer, resorted to blackmail and framing people for crimes they didn't commit to try and get his own way. He wanted Bates' job and framed him for stealing, unsuccessfully, to try to get it, and blackmailed the Duke of Crowborough, his former lover, with exposing their gay affair. In season two, Thomas signs up for the Medical Corp in an effort to avoid battle, and when that doesn't work well, he's got a scheme for that, too.

9 -- Season one of "Downton Abbey" is in the Guinness World Records book for the Highest Critical Review Ratings for a TV Show after receiving a 92 out of 100 score on Metacritic.

10 -- The series was created by Julian Fellowes, the Oscar-winning writer of "Gosford Park." In fact, in the book "The World of Downton Abbey" -- written by Julian Fellowes' niece Jessica Fellowes -- he says fellow "Downton" producer Gareth Neame helped spark the idea for "Downton Abbey" when he suggested Fellowes revisit the territory of "Godford Park," but for television.

Source: http://us.rd.yahoo.com/dailynews/rss/tv/*http%3A//news.yahoo.com/s/nm/20120107/tv_nm/us_downtonabbey

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Controversy over President Obama?s Recess Appointments

--> Cordray Obama

Photo: Stark County Dems (flickr)

President Obama appointed former Ohio attorney general Richard Cordray to be the new director of the Consumer Financial Protection Bureau. What does this mean for consumers?

10:00

Last week, President Obama appointed former attorney general Richard Cordray to direct the new Consumer Financial Protection Bureau. The appointment caused controversy and anger, however. One political group is even trying to change the way appointments are made. What sparked Obama?s decision, and what is in the future of the Consumer Financial Protection Bureau?

Guests

  • Tamara Keith (NPR Congressional Reporter)
  • Thomas M. Davis (No Labels Co-Founder/former Congressman, 11th District, Virginia)
  • Pamela Banks?(Senior Policy Counsel, Consumers Union)

Source: http://feedproxy.google.com/~r/AllSidesWithAnnFisher/~3/i3zVG_quvIY/

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Biobank UK prepares to open for business

ROLL up, roll up: the biobank is open for business. Medical, lifestyle and genetic data from 500,000 middle-aged Britons is to be made available to medical researchers worldwide through the Biobank UK project, which has spent five years recruiting volunteers.

The idea is to unravel the forces driving common diseases by tracking the fate of the volunteers, aged 40 to 69, in the years ahead.

All volunteers supplied blood and urine samples, and thorough lifestyle data, making the biobank the most comprehensive of its kind, says Andrew Trehearne, information officer at Biobank UK.

In December, Biobank UK finalised its procedures for allowing researchers to access the data. "Anyone can apply to use the data, as long as their project is in the public interest and could bring health benefits," says Trehearne. The not-for-profit database will launch in March.

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Reformed Van Halen performs intimate gig

They'll be playing arenas when they tour next month, but on Thursday night, a regrouped Van Halen provided thrills in a tiny club where a VIP crowd stood elbow to elbow as the storied band played some of their greatest hits including "Jump" and "Panama."

"Welcome to Occupy Van Halen, ladies and gentleman!" frontman David Lee Roth yelled just before the band launched into "You Really Got Me," the first in an approximately hour-long, high energy set.

The show was at the famed Caf? Wha? in New York's West Village ? a club owned by Manny Roth, the uncle of Roth.

David Lee Roth noted some of the greats that played in the club ? including Bob Dylan ? and told the crowd, "I'm more nervous about this gig than I would ever be in the Garden," referring to Madison Square Garden.

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The band will soon be playing the Garden and other venues like it, as they kick off a nationwide tour next month. The Rock and Roll Hall of Famers start the tour in Louisville, Ky., on Feb. 16, and will tour through June, hitting cities like Boston, Atlanta and Chicago. They'll also be promoting a new album: The group announced Wednesday that they'll release "A Different Kind of Truth" on Feb. 7, the group's first album with Roth since their celebrated album "1984," released that same year.

Story: Van Halen unveils new tour with David Lee Roth

Van Halen has gone through plenty of changes since then. Roth left the band for a solo career and was replaced with Sammy Hagar in a messy breakup; he later returned to the band as Hagar exited in a split that had just as much discord. There would be more turmoil as bassist Michael Anthony was replaced a few years ago with Wolfgang Van Halen, the son of guitar great Eddie Van Halen.

But it was all smiles on Wednesday, as father and son, along with Eddie's brother and drummer Alex were all on hand as the reconstituted group played a warm-up of sorts before their nationwide tour, their first together in almost four years.

"This has been a really long time coming," Roth told the audience.

The band hardly seemed rusty. Though his mic was weak, Roth's voice wasn't, as his signature screech was in top form, as was Eddie Van Halen's scorching guitar play on songs like "Hot for Teacher" and "Dance the Night Away."

Roth joked about the small size of the club: "The last time I stood on a stage this low, I had to get the car home by midnight."

Later, he talked about how he used to wander through the club as a kid, dreaming of a chance to play on its stage.

"It took us 50 years to get this gig. It was easier to get in the Rock and Roll Hall of Fame than to get this gig," he said.

Roth's uncle Manny, now 92, was in the audience, sitting next to John McEnroe, one of several luminaries in the crowd.

"It's come full circle," said a beaming David Lee Roth amid the audience's cheers.

Source: http://today.msnbc.msn.com/id/45899620/ns/today-entertainment/

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Tobii Gazes into the future, sees you navigating Windows 8 with your eyes (video)

You may be waiting with baited breath for Microsoft to hurry up and release Windows 8 PCs and tablets to the masses, but before they get here, there might a twist to the way you tweak'em. Tobii Technology intends to demo its new mouse-free interface at CES this month -- dubbed Tobii Gaze -- that it hopes'll revolutionize the way we interact with devices. The gesture-based system incorporates eye-tracking to direct an on-screen pointer and works in conjunction with touch pad input for "fine-tuning." The company's hoping this new interface'll help you toss out that antiquated clicker and embrace the world of Minority Report. Hey, it's inevitable and you know it.

Continue reading Tobii Gazes into the future, sees you navigating Windows 8 with your eyes (video)

Tobii Gazes into the future, sees you navigating Windows 8 with your eyes (video) originally appeared on Engadget on Thu, 05 Jan 2012 10:50:00 EDT. Please see our terms for use of feeds.

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Lilly projects sharp drop in 2012 profit (Reuters)

(Reuters) ? Eli Lilly & Co forecast a sharp plunge in profits for 2012, the first full year its top-selling Zyprexa schizophrenia treatment faces generic competition, and its shares fell as much as 3.6 percent.

Like other drugmakers, Lilly is facing patent expirations on its most important medicines, leading generic competitors to erode billions of dollars in revenue. But unlike rivals such as Pfizer Inc, Lilly is not significantly cutting spending, including on research, in order to shore up profits.

The Indianapolis-based company said it will maintain or even slightly increase its investment in research and development this year compared with 2011, while spending on sales and administration in 2012 would be higher than what analysts generally expected.

Chief Financial Officer Derica Rice told analysts on a conference call that Lilly had pared down costs for several years to prepare for the Zyprexa patent expiration, including cutting more than 7,000 jobs since 2004. The company does not plan any additional major restructuring, he said.

"Having substantially reduced our infrastructure, we are positioned to fund the R&D that will drive our future growth" Rice said.

The company projected earnings of $3.10 to $3.20 per share for 2012. Analysts' average forecast is $3.61, according to Thomson Reuters I/B/E/S.

For 2011, Lilly said it expects to meet or exceed its previous profit forecast of $4.30 to $4.35 per share excluding one-time items. Including items, it expects $3.84 to $3.89 per share.

Zyprexa, a $4.5 billion-a-year product, began facing U.S. competition in October from low-cost generic versions. Lilly's Cymbalta antidepressant, with $4 billion in annual sales, goes generic in mid-2013, and generic forms of its Evista osteoporosis drug arrive in 2014.

DIFFERENT THAN RIVALS

Chief Executive John Lechleiter has vowed to remain independent through the three-year patent cliff, rather than merging with another big drugmaker to cushion the generic blows. He has defended his stance on R&D spending as necessary to usher in a new era of innovative medicines.

Deutsche Bank analyst Barbara Ryan said Lilly's spending levels were "inconsistent" with rivals, so investors should not expect other drugmakers to issue similarly disappointing forecasts.

Lilly said it had 12 drugs in late-stage, Phase III clinical studies, exceeding its goal of having 10 at that stage by the end of 2011.

"Today's guidance reaffirms the ongoing earnings pressure to Lilly's results over next few years ... at a time when the company simultaneously needs to invest heavily in its pipeline," JPMorgan analyst Chris Schott said in a research note.

Lilly stood by its previous forecast for net income of at least $3 billion on revenue of at least $20 billion each year through 2014.

For 2012, Lilly said it expects revenue of $21.8 billion to $22.8 billion. That would be a significant drop from the $24.2 billion analysts are looking for in 2011.

Lilly expects Zyprexa sales to decline by more than $3 billion, which will be somewhat offset by growth in products such as Cymbalta, erectile dysfunction drug Cialis and its Humalog and Humulin insulins.

Overall operating expenses will stay "essentially flat" in 2012, Lilly said. R&D spending will stand at $5 billion to $5.3 billion in 2012, the company said, which will be flat or slightly higher than in 2011.

Wall Street is eagerly awaiting late-stage results for Lilly's experimental Alzheimer's disease drug, solanezumab, which could be a huge seller. But many analysts doubt the product will prove effective.

A panel of outside safety experts overseeing the Phase III trial for solanezumab will meet later this month and the company said it plans to provide an update at the end of January.

JPMorgan's Schott earlier this week projected that Lilly's earnings per share would decline 5 percent a year on average through 2017.

Lilly shares were down 1.9 percent at $39.93 at midday on the New York Stock Exchange, off an earlier low at $39.25.

(Reporting By Lewis Krauskopf in New York; Editing by Michele Gershberg, John Wallace and Matthew Lewis)

Source: http://us.rd.yahoo.com/dailynews/rss/diseases/*http%3A//news.yahoo.com/s/nm/20120105/hl_nm/us_elililly

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