BUZZ - Eli Lilly shares rise after rival Novo Nordisk raises 2026 performance forecast

November 4 - ** The pharmaceutical company Eli Lilly (LLY.N) saw its stock price rise 2%, reaching $1,437.28

** Eli Lilly's competitor Novo Nordisk reported third-quarter results that exceeded expectations and has (link) raised its full-year adjusted sales and operating profit forecasts to a range of 2% growth to a 2% decline at constant exchange rates, compared with the previous forecast of flat to a 6% decline

** Novo stated that the improvement in performance was mainly due to increased volume, particularly sales growth of its weight-loss drug Wegovy

** “For Eli Lilly, the strong demand for Wegovy further confirms our view that with broader market coverage, volume growth in this category will offset pricing pressure,” said Citi analyst Geoffrey Meacham

** Meacham noted that Novo Nordisk continues to face pressure in the U.S. market for its injectable diabetes and obesity medications, which further highlights the strong performance of Eli Lilly's injectable weight-loss drug Zepbound's active ingredient, tirzepatide

** Eli Lilly (LLY) shares have risen 31% so far this year

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