Eli Lilly reported second-quarter results that surpassed Wall Street estimates and prompted the company to increase its full-year outlook. The pharmaceutical firm now projects 2026 revenue between $85 billion and $87 billion, up from prior guidance of $82 billion to $85 billion. The company also adjusted its full-year adjusted profit projection to between $35.50 and $36.50 per share, though the lower end of the range represented a reduction from previous guidance of $35.50 to $37 per share. The changes reflected a $2.78 per share increase in underlying profit guidance at the midpoint, offset by $3.03 per share in charges related to acquisitions completed during the quarter. Share prices rose 4% in morning trading on the news.
The strong results were driven primarily by continued demand for the company’s obesity and diabetes medications. Mounjaro generated $9.94 billion in worldwide revenue for the quarter, representing a 91% increase from the prior year and exceeding analyst expectations of $8.99 billion. Within the U.S., Mounjaro sales reached $4.8 billion, above the anticipated $4.44 billion. International sales proved particularly robust, jumping 172% year-over-year. Zepbound, the company’s injectable obesity treatment, posted $4.93 billion in quarterly revenue, a 46% increase from the same period last year, surpassing analyst expectations of $4.69 billion. The company’s newly approved oral obesity medication, Foundayo, generated $98 million in sales during the quarter.
Lilly maintained significant market share dominance in the GLP-1 drug category, capturing 60.9% of the U.S. obesity and diabetes medication market during the second quarter, compared to competitor Novo Nordisk’s 38.8% share. U.S. revenue climbed 33% to $14.4 billion, driven by a 37% increase in prescription volumes that was partially offset by lower realized prices. International revenue surged 80% to $8.6 billion, with volume increases of 113% tempered by a 36% decline in realized prices, largely attributable to Mounjaro’s inclusion in China’s state health insurance program.
The company continues an aggressive acquisition strategy fueled by revenues from its blockbuster medications. Recent deals include the purchase of a psychedelics drugmaker announced in July and plans to acquire three vaccine manufacturers announced in May. Chief Executive Dave Ricks noted that the company expects global GLP-1 patient populations to expand from approximately 20 million at the end of the previous year to 30 million by year-end 2026. He also indicated that new Medicare coverage for obesity medications, which began in early July with a $50 monthly copay for eligible seniors, was progressing well and would likely generate additional demand in coming months.
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