US drugmaker Eli Lilly (LSE: GSK) looked set to lose a whopping $730 million in the stock market value on Wednesday, if its lunchtime position was to be maintained.
The company’s third-quarter financial results and latest guidance for 2024 left investors seriously underwhelmed, prompting what reports are calling the worst day for Lilly’s stock since 2021.
Revenue for the quarter was $11.44 billion, up 20% but short of the $12.11 expected by analysts. Adjusted earnings per share for the quarter were $1.18, also missing Wall Street forecasts, which were for a figure of $1.47.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze