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Eli Lilly: The Competition is Just Too Darn Intense!

Yesterday, shares fop Eli Lilly (LLY) dropped 3% after the pharmaceutical giant beat earnings forecasts but said that a new drug application for a rheumatoid arthritis treatment had been delayed.

Illustration: Pixabay

Leerink analyst Seamus Fernandez and team take the opportunity to cut Eli Lilly to Market Perform from Outperform citing point to "intense competition" for their decision their downgrade:

LLY delivered strong 2Q17 results, driven by growth products in diabetes and immunology, but our forecasts and consensus...