Shares in Eli Lilly (NYSE:LLY) fell slightly today as the company met expectations on Wall Street with its 1st quarter financial results.
The company has faced its share of issues in the last year – Lilly took a $150 million hit in November after its Alzheimer’s drug failed in a clinical trial and this month, the FDA rejected its rheumatoid arthritis drug. But the company’s diabetes therapies, such as Trulicity and Humalog, helped to propel the company to an adjusted quarterly profit that beat expectations on The Street.
“We are encouraged by another solid performance from Lilly’s overall diabetes franchise,” Leerink Partners analyst Seamus Fernandez said in a note, according to Reuters.
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