Shares rise after stronger outlook and quarterly beat
Shares of drugmaker Eli Lilly LLY.N rise 6% to 1,181.32.
Stock headed for its biggest one-day jump in over three months, if gains hold.
Co expects annual revenue of $85 bln to $87 bln, compared with its previous expectation of $82 bln to $85 bln.
The results keep Lilly's "differentiated growth trajectory" intact, Citi analysts say.
Adds that the outlook for the remainder of the year would depend on volume growth, driven by expanded Medicare access and sustained international demand for diabetes drug Mounjaro.
LLY reports Q2 adj. EPS of $8.38 vs analysts' average estimate of $6.01, according to LSEG data.
Co's Q2 revenue of $22.97 bln beats expectation of $20.72 bln.
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