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Eli Lilly third-quarter profit slips 4%

Oct 27 (Reuters) - Eli Lilly and Co reported a 4% fall in the third-quarter profit on Tuesday due to higher costs.

Net income fell to $1.21 billion, or $1.33 per share, in the quarter ended Sept. 30, from $1.25 billion, or $1.37 per share, a year earlier.

Lilly’s results come a day after the drugmaker said no additional hospitalized COVID-19 patients will receive its experimental antibody treatment based on data suggesting that the therapy was unlikely to help these patients recover.

Reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty

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