Reported 27 days ago
Eli Lilly's stock took a significant hit after the company reported disappointing Q3 earnings, with revenue of $11.44 billion, below analyst expectations. Despite Mounjaro sales doubling to $3.11 billion, the company faced a $2.98 billion loss due to in-process research and development charges, leading to lowered 2024 guidance and a drop in stock value by over 10%.
Source: YAHOO