Lilly shares sliding after announcing losses
Fourth-quarter earnings per share (EPS) at Eli Lilly (NYSE: LLY) reflected a loss of $1.58 on a reported basis, and Wednesday’s trading hit the company’s hopes for healthy EPS in 2018.
Shares in the US pharma major dropped by 4% in the morning’s trading as markets reacted to the company’s presentation of its fourth-quarter and full-year earnings for 2017.
The quarterly EPS loss was primarily due to the estimated $1.9 billion cost associated with recently-enacted US tax reform legislation and the price of downsizing of its workforce.
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