Eli Lilly Stock Crumbles As Covid Antibodies Hammer Sales, 2021 Outlook

Eli Lilly stock crumbled Tuesday after the pharmaceutical giant lagged Wall Street's first-quarter expectations and cut its 2021 outlook on light Covid treatment sales.

Mizuho Securities analyst Vamil Divan expected the latter point. Eli Lilly (LLY) has an antibody-based treatment for Covid known as bamlanivimab. However, several variants have eluded treatment with the drug.