Eli Lilly Says Coronavirus Won't Hurt Its Medicine Supply

Eli Lilly says coronavirus won't hurt its medicine supply. The company does not expect shortages for any of its products, including all forms of insulin.
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Eli Lilly  (LLY) - Get Report is doing its part to calm consumer concern as the company said the coronavirus would not affect the supply and availability of its medicines.

The Indianapolis drugmaker said that since the initial outbreak of the coronavirus, it had been closely monitoring its supply chain for potential impact.

The company does not expect shortages for any of its products, including all forms of insulin.

Eli Lilly does not source active pharmaceutical ingredients for any of its approved medicines from China, and the company’s insulin-manufacturing sites in the U.S. and Europe have not been affected by the coronavirus epidemic.

“Lilly insulin and other medicines are available, as normal, in U.S. pharmacies. Pharmacies that don't have certain medicines in stock can order them from wholesalers, with delivery in 1-2 days,” the company said in a statement Tuesday.

The company’s manufacturing network is fully operational, and Lilly said it was in “close communication” with its key suppliers to ensure its supply of raw materials.

First discovered in Wuhan, China, Covid-19, better known as the coronavirus, has become worldwide news in the wake of its outbreak.

More than 3,000 people have died from the coronavirus, most of them in China.

The World Health Organization and the Centers for Disease Control and Prevention have cautioned countries worldwide to prepare for a potential pandemic after outbreaks in countries like Iran and Italy. The outbreak is having major effects on world economies and markets.

Eli Lilly shares at last check were little changed at $132.89.