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Lilly Nudges Up Forecast as Covid Antibody Demand Surges (2)

Oct. 26, 2021, 3:46 PM

Eli Lilly & Co. lifted its full-year forecast as the delta variant-fueled surge in cases spurred demand for its Covid-19 treatments, particularly among the unvaccinated.

Adjusted profit for 2021 is projected to reach $7.95 to $8.05 a share, up from the previous guidance of $7.80 to $8, Indianapolis-based Lilly said Tuesday in a statement. Full-year revenue will be $27.2 billion to $27.6 billion, compared with an earlier forecast of $26.8 billion to $27.4 billion.

Lilly had cut its forecast in April after the U.S. canceled a deal for its single Covid antibody, bamlanivimab, on concerns about drug resistance. Since ...