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Biotech / Medical : Eli Lilly
LLY 820.10-0.8%Oct 28 9:30 AM EDT
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From: Moonray1/29/2021 10:51:08 AM
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Lance Bredvold

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Eli Lilly profit benefits from successful
launch of Covid antibody treatment
Melodie Warner

Eli Lilly's fourth-quarter profit beat Wall Street estimates, thanks
in part to strong demand for its diabetes and cancer drugs and
sales of its Covid-19 antibody treatment, Reuters reported.

Eli Lilly’s new COVID-19 treatment helped the drugmaker’s
fourth-quarter profit surge even though U.S. regulators approved
its use late in the quarter.

The antibody treatment bamlanivimab brought in $850 million
in U.S. sales for Lilly after the Food and Drug Administration
authorized emergency use in November for patients with
mild-to-moderate COVID-19.

The company's overall sales rose 21.7% to $7.44 billion.

Excluding items, Eli Lilly earned $2.75 per share, beating
estimates of $2.35 per share.

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