Eli Lilly & Co. reported lower-than-expected quarterly earnings due to pricing pressure on top products, while the drugmaker said it would proceed with plans to introduce a new Covid-19 antibody treatment despite a setback in one of several clinical studies of its uses.

The Indianapolis-based company said it would continue pursuing U.S. authorization for an antibody drug to treat Covid-19 patients in the early course of illness and with a mild to moderate version of the disease. That comes after the National Institute of Allergy…

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