Eli Lilly forecast annual profit largely above Wall Street estimates on Thursday, a move investors said eases some concerns about signs of weakness in sales of its popular diabetes and weight-loss treatments.

It turns out that the anti-obesity space isn't growing as fast as Eli Lilly or analysts anticipated, resulting in lower-than-expected revenue for the company's famous weight management drug, Zepbound.

Eli Lilly & Co.’s full-year earnings forecast came in line with analysts’ estimates as the company works to fix inventory problems with its new blockbuster obesity and diabetes drugs that weighed on sales in recent quarters.