motor sizing

hello, I am looking to purchase a motor for a prosthetic arm, it should be able to to pick up about 5-7 pounds from a distance about an arms length. the motor would be placed above the elbow,torque required would be = ( 5-7 pounds)*( 12 inches).its very important that the motor is pretty light, and battery efficient. price is not a concern do you have any recommendations?

You essentially need 1152 oz-in or torque, which is quite a lot. You can find that in large RC servos or high end smart servos.
If weight is important, it would seem a high end smart servo is most suitable (if you want rotational as opposed to linear motion):
Ex: robotshop.com/en/dynamixel-m … RB-Rbs-107
Ex: robotshop.com/en/invenscienc … =RB-Ins-01