Eli Lilly & Co. said revenue for the recently ended quarter fell 9% as lower sales of its Covid-19 antibodies and the strong U.S. dollar weighed on growth.
The pharmaceutical company said Thursday that quarterly revenue fell 9% to $7.30 billion, slightly below analyst estimates, according to FactSet. Currency translation, lower realized prices and a drop in demand for some products all dragged on sales. Excluding sales of the company’s Covid-19 antibody treatments, revenue in the quarter rose 5%.
