Eli Lilly cuts revenue forecast, shares fall
- Eli Lilly and Co reported lower-than-expected sales for its top-selling diabetes drug Trulicity and cut its full-year revenue forecast as it sees further hits from price declines in the United States, sending its shares down 3 percent.
Under intensifying pressure from lawmakers to lower drug prices, Lilly agreed to offer a half-priced version of insulin injection Humalog earlier this year. The drugmaker is one of the three main global providers of insulin products. Sales of psoriasis treatment Taltz, considered one of Lilly’s growth drivers, came in at $252.5 million, also falling short of analysts’ estimates.
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