Eli Lilly and Co raised its 2019 profit forecast after reporting a better-than-expected quarterly profit on Wednesday, helped by performance of its diabetes drug, Humalog, and lower tax bill. The drugmaker is one of the three main providers of insulin products and had agreed earlier this year to offer a half priced version of its insulin injection Humalog in response to intensifying pressure from politicians to lower drug costs for consumers. Sales from both versions of the insulin injection fell 2.4% to $648.9 million, but narrowly beat analysts’ average estimate of $645.33 million, according to three analysts polled …read more
Source:: Yahoo Finance
