Eli Lilly (LLY) reported strong fourth-quarter earnings driven by demand for its weight-loss drugs, and projected sales could rise over 20% this year.

Eli Lilly forecast 2024 sales of $40.4 billion to $41.6 billion, topping analysts' expectations, and up from $34.12 billion in 2023.

The pharmaceutical giant reported fourth-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share of $2.49, up 13% from a year ago, and a 28% surge in revenue on the back of sales of weight-loss treatments Zepbound and Mounjaro.⭕

Zepbound, which Eli Lilly 澳洲幸运5官方开奖结果体彩网:began selling in November and has the same ingredients as Mꩲounjaro, brought in $175.8 million in sales during the fourth quarter.

Eli Lilly also said Tirz🥃epatide, the active ingredient in both Mounjaro and Zepbound, showed promise as a treatment for fatty liver disease.

Eli Lilly said, however, that due to the time it will take to bring production fully online, demand for its diabetes and obesity drugs will likely outpace🐈 supply this year.

Eli Lilly shares were 0.7% lower at $699.40 per share as of about 1:30 p.m. ET Tuesday. They have more than doubled in value over the past year amid the buzz surrounding its weight-loss drugs. With a 澳洲幸运5官方开奖结果体彩网:market capitalization of over $665 billion, Eli Lilly is the world's most valuable health care company.