Lilly Disappoints Street, But Stays Its Course
This article was originally published in The Pink Sheet Daily
Eli Lilly & Co. failed to meet the Street’s expectations on Jan. 5 when it held a guidance call with analysts, largely due to the rapid erosion of its newly genericized antipsychotic Zyprexa.
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Lilly's earnings are in line with analyst expectations, but higher costs cut into profits as the company prepares for a revenue decline.
With the loss of Zyprexa just months away, Eli Lilly management sought to reassure investors its strategy of focusing on its internal pipeline and core growth areas will pay off post-2014.