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Eli Lilly shares rise after forecast update
Eli Lilly's stock jumped by up to 7% after raising its revenue forecast for 2026 to between $85 billion and $87 billion, up from the previous $85 billion, due to strong demand for the company's therapeutic products. The company's second-quarter profits exceeded expectations, driven by strong interest in GLP-1 medications, especially after the U.S. Food and Drug Administration approved Vandyo for weight loss. The company is also working on developing the drug Reterutide, with plans to submit a regulatory approval application in the first quarter of next year to strengthen its position in the weight loss and healthcare markets. The company's shares have risen by more than 40% since the end of April and 3% since the beginning of the year, as markets continue to be drawn to its financial results and growth prospects.
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