Posted by Michael Wonder on 26 Apr 2017
Lilly gives no time frame on arthritis drug delay; shares fall
25 April 2017 - Eli Lilly said Tuesday provided no new information on how long U.S. regulators might delay approval of its closely watched rheumatoid arthritis drug after its surprise rejection by the FDA this month.
Lilly shares, which have outperformed its rivals this year, fell 3% to $80.83 even though the U.S. drug maker reported a slightly higher-than-expected quarterly profit.
