Weight loss, diabetes drugs propel Eli Lilly to largely better-than-expected forecast for 2024

By TOM MURPHY
AP Health Writer

Eli Lilly rode soaring demand for diabetes and weight-loss treatments to a better-than-expected finish in 2023, and the drugmaker expects momentum to carry into the new year. Lilly said on Tuesday that revenue could climb as much as 22% this year, as newer products like the diabetes drug Mounjaro and its weight-loss counterpart, Zepbound, gain market share. But the company still is struggling to make enough Mounjaro to satisfy demand. Lilly expects that problem to persist while it expands manufacturing capacity. The company also is dealing with supply problems and delays for the company’s top seller, the diabetes treatment Trulicity.