Lilly forecasts 2017 revenue, profit above estimates

Eli Lilly forecast 2017 earnings and revenue above analysts' estimates as it sees strong demand for its recently launched drugs, including diabetes treatments Trulicity and Jardiance.

The company said it expected 2017 revenue to be between $21.8 billion to $22.3 billion and adjusted earnings in the range of $4.05 to $4.15 per share.

Analysts on average were expecting revenue of $21.67 billion and earnings of $3.97, according to Thomson Reuters I/B/E/S.

Earnings on a reported basis are expected to be in the range $3.51 to $3.61 per share, the company said.

However, Lilly lowered its 2016 earnings estimate due to charges related to its failed late-stage trial of its Alzheimer's treatment.