The results come as Eli Lilly works to maintain its edge over Novo Nordisk in the booming market for a class of obesity and diabetes drugs called GLP-1s.

Eli Lilly shares rise as Q3 revenue jumps 54% to $17.6 billion, earnings top estimates, and analysts lift price targets on strong obesity drug momentum.

U.S. sales of Lilly’s weight-loss treatment Zepbound nearly tripled, to $3.57 billion, in the third quarter. Meanwhile, revenue from the diabetes drug Mounjaro, which has been on the market longer, has doubled, to $6.52 billion, thanks to growth outside the U.S.

Lilly now says it expects non-GAAP earnings from $23 to $23.70 a share this year, up from $21.75 to $23. The new guidance is well above the current analyst consensus estimate of $22.48, and suggests Wall Street’s fourth quarter expectations may be too low.

Eli Lilly remains a top GARP opportunity, with Q3 results reinforcing its robust business growth and dominance in incretin analogs. Learn more about LLY stock here.

Drug company Eli Lilly and NVIDIA announced a new partnership to build a supercomputer for drug research. Drug manufacturer Eli Lilly and NVIDIA have announced a partnership to build out an AI supercomputer for pharmaceutical research and development.

The drugmaker hopes an Nvidia-chip powered supercomputer will help it find new drugs and accelerate lengthy R&D timelines.

Eli Lilly reported strong earnings and raised guidance. Read more on what could be next for this biotech giant.

In parallel with mazisotine’s shelving, Lilly added a phase 1 NaV1.8 inhibitor from its SiteOne Therapeutics acquisition to its pipeline. That asset, STC-004, hits the same target as Vertex’s pain treatment Journavx.