Eli Lilly raises full-year forecast, as weight-loss drugs demand drives third-quarter beat

Core Insights - Eli Lilly raised its full-year profit and revenue forecast due to strong demand for its weight-loss and diabetes drugs, Zepbound and Mounjaro, leading to a third-quarter earnings beat [1][3] - The company's shares increased by 2% in early trading following the announcement [1] - The weight-loss drug market is projected to reach $150 billion by the end of the decade, with Eli Lilly competing with Novo Nordisk for market leadership [1] Financial Performance - Eli Lilly expects adjusted earnings of $23.00 to $23.70 per share for the year, an increase from the previous forecast of $21.75 to $23.00 per share [3] - For the third quarter, the company reported earnings of $7.02 per share on an adjusted basis, surpassing analysts' average estimate of $5.69 per share [5] Market Context - Investors have high expectations for Eli Lilly's GLP-1 portfolio amid concerns over potential U.S. price negotiations [2] - The U.S. government is implementing a "most favored nation" policy to align domestic drug prices with those in other wealthy nations [2]