Sales grew 38% year over year, driven by volume growth from weight-loss and diabetes drugs Zepbound and Mounjaro, Lilly said. Zepbound sales in the quarter was $3.4 billion and Mounjaro sales came in at $5.2 billion, beating estimates of $3 billion and $4.7 billion, according to FactSet estimates.

Lilly’s stock was tumbling as disappointing trial data for an oral weight-loss pill offset an upbeat earnings report and outlook.

Shares in Novo Nordisk rose as much as 14% on Thursday after trial data from Eli Lilly's experimental weight-loss pill fell short of expectations, boosting investor confidence in the Danish drugmaker's market-leading obesity treatment.