INDIANAPOLIS — Eli Lilly fell well short of Wall Street’s first-quarter expectations, and the drugmaker chopped the top end of its earnings forecast due to lower demand for COVID-19 treatments.
Lilly pulled in $810 million in the quarter from sales of COVID-19 treatments and expects as much as $1.5 billion in revenue from the drugs this year. But vaccines are being widely delivered in the U.S., and the changing virus has limited the effectiveness of Lilly’s bamlanivimab.
Lilly said earlier this month that treatment combinations work better fighting some virus variants. It recommends using bamlanivimab with another one of its drugs, etesevimab.
