Eli Lilly raises forecasts on surging demand for weight-loss drugs

Core Insights - Eli Lilly raised its full-year profit and revenue forecasts due to strong demand for its weight-loss and diabetes drugs, Zepbound and Mounjaro, surpassing third-quarter earnings estimates [1][5] - The company's shares increased by 7% in premarket trading following the announcement [1] Financial Performance - Eli Lilly reported Zepbound sales of $3.6 billion for the quarter, exceeding analyst expectations of $3.23 billion [4] - The company adjusted its earnings forecast to $23.00 to $23.70 per share for the year, up from a previous estimate of $21.75 to $23.00 per share [5] - For the quarter, Eli Lilly earned $7.02 per share on an adjusted basis, significantly higher than the analysts' average estimate of $5.69 [5] Market Context - 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 [2] - The U.S. government is implementing a "most favored nation" policy, which may impact drug pricing strategies for companies like Eli Lilly [3]