Is Eli Lilly Stock a Buy?
Yesterday, pharmaceutical giant Eli Lilly & Co. reported its 2019 third-quarter earnings. Despite posting overall sound numbers for the three-month period, the drugmaker's stock still dropped by 2.22% during Wednesday's trading session. Investors were apparently displeased with the quarterly sales figures for the plaque psoriasis medication Taltz, the diabetes drug Trulicity, and the migraine medicine Emgality.
All three drugs generated solid revenue growth during the third quarter, but Wall Street wanted even more from these three key growth products. Lilly, after all, is still navigating its way through a maze of patent expires for top-selling medicines such as Cialis, the overhang from the spinoff of its animal health unit Elanco, and the raging controversy over insulin prices in the U.S., as well as the unexpected marketing withdrawal for its soft tissue cancer drug Lartruvo earlier this year.
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Source Fool.com
