Eli Lilly reported third-quarter financial results that exceeded analyst expectations and prompted the company to raise its full-year guidance. The pharmaceutical manufacturer now projects 2026 revenue between $91 billion and $92 billion, up from a previous range of $85 billion to $87 billion. The company also adjusted its full-year adjusted earnings guidance to between $35 and $36 per share, though this represented a decrease from prior guidance of $35.50 to $36.50 per share when accounting for deal-related charges totaling $4.57 per share.
Mounjaro, the company’s diabetes treatment, generated worldwide revenue of $10.72 billion for the quarter, exceeding analyst estimates of $10.10 billion. U.S. sales of Mounjaro reached approximately $5 billion, compared to expected sales of $4.79 billion. International markets showed particular strength, with sales outside the U.S. climbing 93%. Zepbound, the weight loss drug, posted $5.35 billion in quarterly revenue, up 49% from the prior year and surpassing analyst expectations of $5.09 billion.
Fly in the ointment came from Foundayo, Eli Lilly’s oral obesity treatment that launched in the U.S. in April. The drug generated $184 million in third-quarter sales, falling short of analyst forecasts of approximately $229 million. This marked only the second earnings period to include Foundayo revenue as it competes with a similar drug from rival Novo.
U.S. revenue climbed 34% to $15.1 billion, driven by a 41% surge in prescription volume for Mounjaro and Zepbound, though realized prices for these medications declined 7%. International sales jumped 47% to $9.3 billion, reflecting a 76% increase in volume partially offset by a 29% decrease in realized prices. The company reported net income of $6.45 billion, or $7.22 per share, compared with $5.58 billion, or $6.21 per share, in the prior year period. Stock shares rose approximately 4% in premarket trading following the announcement.
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