Eli Lilly misses on earnings but raises full-year guidance
Publishing timestamp: 2023-04-27 16:26:36
Summary
Eli Lilly missed Q1 earnings expectations due to a decline in Covid antibody sales, but raised its full-year guidance and reported positive data on its weight loss drug tirzepatide. The company's revenue fell 11% compared to the same quarter last year, but still slightly topped analysts' expectations. Lilly's stock rose in premarket trading and closed nearly 4% higher. The company's revenue for several key products rose year over year, including Trulicity, Verzenio, and Jardiance. Lilly plans to complete its application for FDA approval of tirzepatide in the coming weeks.
Sentiment: MIXED
Tickers: LLY,
Keywords: pandemics, epidemics, biotech and pharmaceuticals, politics, health care industry, breaking news: business, disease outbreaks, coronavirus, business, business news, u.s. economy, biotechnology, eli lilly and co,
Source: https://www.cnbc.com/2023/04/27/eli-lilly-lly-q1-earnings-2023.html