Eli Lilly announced second-quarter earnings and revenue that surpassed analyst expectations, prompting the company to increase its full-year guidance. The pharmaceutical firm now projects 2026 revenue between $85 billion and $87 billion, compared with its previous forecast of $82 billion to $85 billion. The company adjusted its full-year adjusted profit guidance to a range of $35.50 to $36.50 per share, though this reflects an offset from acquisition-related charges of $3.03 per share.
The company’s blockbuster medications drove the strong performance. Mounjaro generated $9.94 billion in worldwide revenue for the quarter, a 91% increase year-over-year, with international sales jumping 172%. Zepbound posted $4.93 billion in quarterly revenue, up 46% from the prior-year period. Lilly’s newly approved oral obesity medication Foundayo, which received U.S. approval in April, generated $98 million in sales during the quarter. The company holds approximately 60.9% market share in the U.S. obesity and diabetes drug market as of the second quarter, compared with competitor Novo Nordisk’s 38.8% share.
U.S. revenue climbed 33% to $14.4 billion, driven by a 37% increase in prescription volume that was partially offset by lower realized prices for medications. International revenue outside the U.S. surged 80% to $8.6 billion, propelled by a 113% volume increase, though realized prices fell 36% primarily due to Mounjaro’s inclusion in China’s state health insurance coverage for Type 2 diabetes. Net income for the quarter totaled $7.10 billion, or $7.94 per share, compared with $6.29 per share in the prior-year period.
Lilly is pursuing an aggressive merger and acquisition strategy fueled by the revenue momentum from its obesity and diabetes franchises. The company completed a deal to acquire a psychedelics drugmaker earlier this year and announced plans to purchase three vaccine makers in May. Company leadership noted that recent Medicare coverage expansions for obesity drugs, which launched earlier this year and allow eligible seniors monthly copays of $50 for branded GLP-1 treatments, are experiencing strong initial uptake.
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