Eli Lil­ly CEO Ricks echoes a grow­ing re­frain on price ne­go­ti­a­tions: 'We’ll fo­cus our re­sources on oth­er ar­eas'

Eli Lil­ly had some drea­ry Q2 num­bers to re­port Thurs­day. And they kept an­a­lysts and in­vestors on hold for an hour be­fore at­tempt­ing an ex­pla­na­tion, blam­ing the de­lay on out­side tech is­sues.

The late Q2 call didn’t help make the top and bot­tom line look any bet­ter. Sales dropped to $6.49 bil­lion for the quar­ter, a bad miss from the $6.85 bil­lion con­sen­sus. Ac­cord­ing to Lil­ly, that was due to both low­er prices for some prod­ucts — in­sulin was the stand­out — as well as a for­eign ex­change hit as a strong dol­lar bites and a drop of 13% on Covid-19 rev­enue.

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