Drugmaker Eli Lilly on Tuesday missed analysts’ estimates for first-quarter profit and tightened its forecast for full-year adjusted earnings, partly due to lower demand for its Covid-19 drugs. Overall demand for antibody drugs from Lilly and Regeneron has suffered for months in the United States, given the complexities associated with the treatments. Lilly earned $810.1 million from its Covid-19 drugs in the quarter, below estimates of $985 million. Sales from Covid-19 drugs are now expected in the range of $1 billion to $1.5 billion from $1 billion to $2 billion projected previously. The drugmaker has said it will focus on bamlanivimab-etesevimab combination, which has been shown to neutralise more Covid-19 variants than just bamlanivimab.

Source: The Irish Times April 27, 2021 12:18 UTC