Lilly Sees Surging Sales in Contrast to Obesity Rival Novo (2)

Eli Lilly & Co. provided an upbeat sales forecast for the year Wednesday as strong demand for its weight loss drug cemented its position at the top of the obesity market.

The guidance was a sharp contrast to rival Novo Nordisk A/S, which warned investors Tuesday that its sales could drop as much as 13% this year on intensifying price competition in the weight loss market. Lilly, on the other hand, expects its sales to grow as much as 27% this year.

Lilly’s shares rose 8.3% at 9:32 a.m. in New York.

Weight-loss drugs are ...