Investing.com — Shares of pharmaceutical company Eli Lilly & Co (NYSE:LLY) experienced a significant drop, as much as 8.6%, marking the most substantial intraday decrease since October.
This slump was triggered by the company’s preliminary revenue for the fourth quarter, which did not meet expectations.
Eli Lilly attributed the disappointing revenue to slower growth of its obesity and diabetes drugs.
The company anticipates revenue to range from $58.0 billion to $61.0 billion. However, this estimate falls short of the projected $58.72 billion.
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