Shares of Eli Lilly got a boost on Thursday after the pharmaceutical company outlined a rosy 2008 profit outlook, fueled by increased sales of its depression and diabetes drugs.

Through the first three quarters of 2007, sales have grown 13 per cent on a pro forma adjusted basis. The company expects 2008 sales to grow in the mid-to-high-single digits, within the range of $3.85 to $4.00. The company projects that seven products will reach $1bn or more in sales next year.