Eli Lilly and Co. reported lower-than-expected sales for its top-selling diabetes drug, Trulicity, and cut its full-year revenue forecast. Due to pressure to lower prices, Eli Lilly agreed to offer a half-priced version of insulin injection Humalog earlier this year. The drugmaker is one of the three main global providers of insulin products.
Lilly said it now expects 2019 revenue to come in between $22.0 billion and $22.5 billion, lower than its prior forecast of $25.1 billion to $25.6 billion. Analysts had expected $22.17 billion.