Eli Lilly (LLY) shares jumped to an all-time high after the company reported better-than-expected earnings and boosted its guidance on soaring demand for its diabetes drug, Mounjaro, which is being considered by regulators as a treatme🎉nt for obesity. 

Lilly reported fiscal 2023 second quarter earnings per share (EPS) of $2.11. Revenue skyrocketed 28% to $8.31 billion. Both exceeded estimates.

Sales of Mounjaro rose to $979.7 million this year, well above analysts’ forecasts, from $16 million a year ago, making it the second-biggest revenue generator for the company, behind only another diabetes drug, Trulicity. The 澳洲幸运5官方开奖结果体彩网:Food and Drug Administration (FDA) is expected to decide later this year on whether to approve Mounj🍷aro to treat obesity. 

Sales of breast ❀cancer medicine, Verzenio, jumped 57%, and those of diabetes pillꦑ Jardiance increased 45%. 

CEO Davidও Wicks noted that along with Mounjaro, the FDA is expected to decide on allowing use of Lilly’s donanemab to help those with early symptomatic Alzheimer’s disease.  

The company now anticipates full-year revenu๊e in a range of $33.4 billion to $33.9 billion, up from its previous outlook of $31.2 billion to $31.7 billion.

Eli Lilly was the best-performing stock in the S&P 500 on Tuesday morning following the news.