Eli Lilly reported second-quarter financial results that exceeded Wall Street expectations, prompting the company to increase its outlook for the full year. The pharmaceutical manufacturer now anticipates 2026 revenue between $85 billion and $87 billion, up from prior guidance of $82 billion to $85 billion. Full-year adjusted profit guidance was set at $35.50 to $36.50 per share, compared with the previous range of $35.50 to $37 per share. The company noted that underlying profit guidance increased by $2.78 per share at the midpoint, though this was partially offset by $3.03 per share in charges related to acquisitions completed during the quarter. Stock prices rose more than 5% in premarket trading following the announcement.
The company’s performance was driven primarily by robust demand for two medications: Zepbound, a weight-loss treatment, and Mounjaro, a diabetes drug. Mounjaro generated worldwide revenue of $9.94 billion for the quarter, representing 91% growth, with U.S. sales reaching $4.8 billion. This exceeded analyst expectations of $8.99 billion in worldwide revenue and $4.44 billion in U.S. sales. International markets showed particularly strong performance, with sales outside the U.S. jumping 172%. Zepbound contributed $4.93 billion in U.S. revenue for the quarter, up 44% compared to the year-earlier period, surpassing analyst forecasts of $4.69 billion.
The company also reported revenue from Foundayo, its recently approved oral obesity medication that received U.S. regulatory approval in April. Foundayo generated $98 million in second-quarter sales, coming in slightly below analyst estimates of approximately $103 million. The pill represents the company’s entry into direct competition with a rival oral drug from Novo Nordisk.
U.S. revenue climbed 33% to $14.4 billion, with the company attributing this growth to a 37% increase in prescription volume, primarily for Mounjaro and Zepbound, partially offset by lower realized prices. International revenue surged 80% to $8.6 billion, driven by a 113% increase in volume and partially offset by a 36% decline in realized prices. Lower international prices reflected Mounjaro’s inclusion in China’s government health insurance program for Type 2 diabetes treatment.
Net income for the second quarter totaled $7.10 billion, or $7.94 per share, compared with $5.66 billion, or $6.29 per share, a year earlier. On an adjusted basis excluding one-time charges, the company posted earnings of $8.38 per share. Looking ahead, both Eli Lilly and competitor Novo Nordisk are expected to benefit from Medicare’s new obesity drug coverage, which began in early July.
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