Drugmaker Eli Lilly and Co. (LLY), while reporting third-quarter adjusted earnings and revenues below market estimates, on Wednesday lowered its forecast for fiscal 2024 earnings and revenues.
On a reported basis,the company turned around to profit in its third quarter on strong revenue growth.
In pre-market activity on the NYSE, Lilly shares were losing around 7.3 percent to trade at $837.90.
For the full year 2024, the company now expects earnings in the range of $12.05 to $12.55, lower than previously expected $15.10 to $15.60.
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