Rochester, NY 8/13/2009 1:02:31 PM
Eli Lilly & Co., LLY - Eli Lilly and Vanda Phama suffers as drug stock loss
Eli Lilly & Co.
Drug stocks were suffering as shares of Eli Lilly & Co. fell in the negative territory.
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Goldman analysts on Monday downgraded the drugmaker to conviction sell from neutral, citing concerns that the company's new blood thinner, Effient, may not prove to be as big of a product as investors had hoped. The analysts also noted that Eli Lilly faces several patent expirations on such top-selling drugs as Zyprexa.
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