Eli Lilly said on Thursday its experimental weight-loss pill met most criteria for the U.S. Food and Drug Administration's new national priority voucher, suggesting it is a strong candidate for a significantly accelerated approval review.

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.

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.

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

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.

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.

With a market cap of around $730 billion, Eli Lilly ( LLY 0.92%) is one of the largest pharmaceutical companies on planet Earth. It has a strong position in the emerging niche of weight loss drugs, with patent protections that extend into the mid-2030s. And there's a solid pipeline of drugs coming up, too.

AstraZeneca, Eli Lilly and Merck committed $120 million to develop an advanced pharmaceutical manufacturing training center in Central Virginia.