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The company now expects adjusted full-year earnings of $7.70 to $7.85 per share, compared to its prior forecast of $7.90 to $8.05. The drugmaker said it took an additional $300 million hit from the stronger dollar.
Multinational companies such as Abbott Laboratories (NYSE:ABT) and Johnson & Johnson (NYSE:JNJ) have been hit by the dollar’s strength against a basket of currencies.
Sales of Mounjaro, Lilly’s newly-approved diabetes drug, was $187.3 million, with over half coming from the United States.
