Lilly expects strong 2024 profit on rising weight-loss drug demand

Eli Lilly (LLY.N), opens new tab on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for its recently approved weight-loss drug, and said the treatment helped reduce symptoms of a common, difficult to treat fatty liver disease in a mid-stage trial.
The company said it expects 2024 revenue of $40.4 billion to $41.6 billion, and adjusted earnings of $12.20 to $12.70, putting the midpoint ahead of analysts' estimates of $12.43 per share, according to LSEG data. .