Eli Lilly Shares Jump 4% After Lifting Guidance on Strong Obesity Drug Sales

Core Insights - Eli Lilly and Co. raised its full-year revenue outlook following stronger-than-expected third-quarter results, primarily driven by increased demand for its obesity and diabetes treatments [1][2] Financial Performance - The company now expects full-year revenue between $63 billion and $63.5 billion, an increase from the previous forecast of $60 billion to $62 billion, surpassing analyst expectations of $61.69 billion [2] - Adjusted annual earnings are projected at $23.00 to $23.70 per share, up from the prior range of $21.75 to $23.00 [2] Quarterly Results - Third-quarter revenue rose 54% year-over-year to $17.6 billion, exceeding expectations of $16.07 billion [3] - The growth was driven by the rapid adoption of the weight-loss drug Zepbound, which has outperformed Novo Nordisk's Wegovy despite its earlier market entry [3] - Sales of the diabetes therapy Mounjaro reached $6.52 billion, also surpassing forecasts [3] - Adjusted earnings per share increased to $7.02 from $1.18 a year earlier, exceeding analyst projections of $5.69 [3]