Lilly reports lower sales in drugs with higher rebates

Lilly's first quarter revenues fell short of expectations, driven by lower-than-expected sales from drugs affected by high rebate rates. The pharma said it believes proposed rebate reforms could have a positive impact on future volume, and isn't too worried about rebate rate compression.

Eli Lilly and Co. (NYSE:LLY) brought in revenues of $5.09 billion, up 3% from 1Q18, but below analyst expectations of $5.2 billion...