Michigan Gov. Gretchen Whitmer, a potential 2028 candidate, wants to find common ground with Trump
Biden promised to turn the page on Trump. Now he's being replaced by him
Firefighters prepare for increasing gusts following brief reprieve for LA area
Nippon Steel wants to work with Trump administration on US Steel deal, Mori tells WSJ
After cable damage, Taiwan to step up surveillance of flag of convenience ships
BOJ will raise rates if economy, price conditions continue to improve, Ueda says
Manatees congregate in warm waters near power plants as US winter storms graze Florida
AAPI adults prioritize immigration, but split on mass deportations: AP-NORC/AAPI Data poll
As Los Angeles burns, Hollywood's Oscar season turns into a pledge drive
As fires ravage Los Angeles, Tiger Woods isn't sure what will happen with Riviera tournament
Antetokounmpo gets 50th career triple-double as Bucks win 130-115 to end Kings' 7-game win streak
(Reuters) - UnitedHealth Group on Tuesday forecast 2024 profit below Wall Street expectations, indicating that medical costs are likely to remain elevated for the health insurance giant.
The largest U.S. health insurer's forecast comes ahead of its investor day on Wednesday, where it is expected to provide its outlook on medical costs.
Focus will also be on any details the company provides on the impact of biosimilars and newer GLP-1 drugs like Novo Nordisk's Ozempic and Wegovy, and Eli Lilly's Mounjaro and Zepbound, J.P. Morgan analyst Lisa Gill said in a note on Monday.
The healthcare sector has this year seen a recovery in demand, especially among older patients who started returning to doctors' clinics and hospitals for procedures they had delayed during the pandemic.
The industry bellwether forecast 2024 adjusted profit of $27.50 to $28.00 per share, below the analysts' average estimate of $27.90, according to LSEG data.
(Reporting by Leroy Leo in Bengaluru; Editing by Maju Samuel and Arun Koyyur)
