Indianapolis-based drugmaker Eli Lilly said Thursday its antibody drug can prevent COVID-19 illness in residents and staff of nursing homes and other long-term care locations.

The pandemic has left millions of Americans without jobs -- and health insurance. And for the one in 10 Americans with diabetes, this poses a life-threatening problem. Now, many are scrambling to pay for their insulin.

The Indianapolis-based maker of diabetes treatments expects revenue ranging from $26.5 billion to $28 billion next year.

The trial was evaluating recovery chances for severe cases when the drug was administered in combination with an antiviral medication that was recently approved by the FDA.

Eli Lilly continues to back a potential COVID-19 treatment despite research showing that it may not work on hospitalized patients.

Lilly expects full-year earnings in the range of $7.20 to $7.40 per share, with revenue in the range of $23.7 billion to $24.2 billion. That's short of the per-share earnings that Wall Street was looking for

Swiss pharmaceutical company Novartis's subsidiary Advanced Accelerator Applications (AAA) broke ground Monday on a new production facility in Indianapolis.

Eli Lilly paused trials of its COVID-19 treatment drug Tuesday. The news came less than a day after Johnson & Johnson also paused its trial on a COVID-19 vaccine.

Recent delivery delays have raised concerns about the U.S. Postal Service's handling ballots for November's election. They've also created immediate worries for those who rely heavily on the service to obtain life-saving medications.

Indianapolis-based Eli Lilly is moving to Phase 3 testing of a treatment to prevent COVID-19 after initial success. The next step will be to test the drug at nursing homes where the pandemic has hit hard.