Eli Lilly & Co. raised its profit forecast after surging demand for its weight-loss medications drove quarterly results above analyst expectations. The pharmaceutical company reported strong sales growth for its diabetes and weight-loss drugs Zepbound and Mounjaro during the first quarter.

The Indianapolis-based drugmaker exceeded Wall Street estimates for the quarter, prompting the company to increase its full-year outlook. The performance was driven primarily by robust sales of its GLP-1 medications, which have seen unprecedented demand as treatments for both diabetes and obesity.

CEO David Ricks disclosed that more than 20,000 people are currently taking the company's weight-loss pill Foundayo, a newer addition to Lilly's obesity treatment portfolio. The oral medication represents part of the company's expanded approach to addressing the growing obesity market beyond injectable treatments.

The strong quarterly results contributed to positive movement in Lilly's stock price during premarket trading. The company's weight-loss drug franchise has become a significant growth driver as healthcare providers and patients increasingly turn to pharmaceutical interventions for obesity management.

Lilly's raised guidance reflects management's confidence in sustained demand for its obesity and diabetes treatments, despite ongoing pricing pressures in the pharmaceutical industry. The company continues to scale production to meet growing demand for its GLP-1 medications across multiple therapeutic areas.