LLY Eli Lilly and Co

By Matt Grossman

Eli Lilly & Co. said Tuesday it is proceeding with regulatory steps to seek approval for drugs to treat type 2 diabetes and Alzheimer's disease.

The Indianapolis-based pharmaceutical company said it has submitted for review its tirzepatide drug for type 2 diabetes using a priority-review voucher. Lilly also said it has initiated a rolling submission of its donanemab drug for Alzheimer's disease.

Lilly posted third-quarter revenue of $6.77 billion, a rise of 18% from the year-ago quarter. Earnings declined by 8% to $1.22 a share. Stripping out one-time items, the company's adjusted profit in the quarter was $1.94 a share.

Lilly said it expects full-year adjusted earnings of $7.95 a share to $8.05 a share.

Shares climbed 2.2% in pre-market trading.

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

(END) Dow Jones Newswires

October 26, 2021 07:05 ET (11:05 GMT)

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