By Matt Grossman

 

Eli Lilly & Co. Tuesday lowered its profit guidance for 2020 but kept adjusted profit and revenue forecasts intact, citing a recovering trend for the health-care sector as the coronavirus pandemic continues.

The drug maker said it expects full-year earnings per share to be $6.20 to $6.40 a share. The company's previous forecast foresaw earnings per share of $6.48 to $6.68.

It left unchanged previous forecasts for revenue, at $23.7 billion to $24.2 billion, and for adjusted earnings per share, at $7.20 to $7.40.

Eli Lilly said it expects new prescriptions for patients to continue to recover in the U.S. as the pandemic proceeds, and that general health-care activity will accelerate following a slump during the earlier stages of the pandemic as health-care providers shift to telehealth.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 27, 2020 07:06 ET (11:06 GMT)

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