Eli Lilly raises annual profit forecast on strength of diabetes drug https://ift.tt/kXuxIPB

Data from the study showed that a high dose helped people with type 2 diabetes who were also obese or overweight to lose nearly 16 per cent of their body weight. Lilly said it expects regulatory action for use of the drug in obesity as early as late 2023. Shares of the US drugmaker rose nearly 3 per cent before the bell. Lilly has been leaning on Mounjaro, approved last May for diabetes, to soften the hit to sales from price cuts for its insulin products and competition for cancer therapy Alimta.

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