Eli Lilly reported second-quarter earnings and revenue that surpassed estimates on Wednesday and raised its full-year sales outlook, driven by surging demand for weight loss drug Zepbound and diabetes treatment Mounjaro. The pharmaceutical giant posted adjusted earnings of $8.38 per share on revenue of $22.97 billion, exceeding analyst expectations of $6.01 per share and $20.73 billion respectively. The strong performance led Lilly to increase its 2026 revenue guidance to between $85 billion and $87 billion, up from a previous range of $82 billion to $85 billion, as the company executes acquisitions including a psychedelics drugmaker deal in July and three vaccine maker purchases announced in May.
Mounjaro Revenue Climbs 91% to $9.94 Billion Worldwide
Mounjaro's worldwide revenue rose 91% to $9.94 billion for the quarter, including U.S. sales of $4.8 billion. The diabetes treatment surpassed analyst expectations of $8.99 billion in worldwide sales and $4.44 billion in U.S. revenue, according to StreetAccount. International sales showed particular strength, jumping 172% outside the U.S. during the second quarter.
Zepbound U.S. Sales Reach $4.93 Billion as Foundayo Debuts
Zepbound posted $4.93 billion in U.S. revenue for the second quarter, up 44% from the year-earlier period. The weight loss drug exceeded analyst expectations of $4.69 billion in U.S. sales, according to StreetAccount. Demand rose while realized prices dropped, in part due to previously announced cash-pay discounts. Lilly's newly launched obesity pill Foundayo, which won U.S. approval in April, generated $98 million in sales for the second quarter, slightly below analyst estimates of nearly $103 million compiled by FactSet.
Eli Lilly Raises 2026 Revenue Guidance to $85-$87 Billion
The company now expects 2026 revenue to come in between $85 billion and $87 billion, up from previous guidance of $82 billion to $85 billion. Lilly projects full-year adjusted profit between $35.50 and $36.50 per share, compared with a previous outlook of $35.50 to $37 per share. The company stated it raised underlying profit guidance by $2.78 per share at the midpoint, offset by $3.03 per share in charges tied to deals completed in the quarter. The pharmaceutical giant booked net income of $7.10 billion, or $7.94 per share, for the second quarter, compared with net income of $5.66 billion, or $6.29 per share, a year earlier.
International Sales Surge 80% Despite Price Reductions
Revenue outside the U.S. jumped 80% to $8.6 billion, propelled by a 113% surge in volume and partly offset by a 36% drop in realized prices. Lower prices largely came from Mounjaro's addition to China's state-run health insurance coverage for Type 2 diabetes. In the U.S., revenue climbed 33% to $14.4 billion, with Lilly reporting a 37% increase in volume for its products, primarily for Mounjaro and Zepbound, partially offset by lower realized prices. CEO Dave Ricks stated in an interview in late April that he expects global GLP-1 use to rise from approximately 20 million patients at the end of last year to 30 million at the end of 2026.
FAQ
What were Eli Lilly's Q2 earnings results?
Eli Lilly reported second-quarter adjusted earnings of $8.38 per share on revenue of $22.97 billion, surpassing analyst expectations of $6.01 per share and $20.73 billion respectively.
How much revenue did Mounjaro and Zepbound generate in Q2?
Mounjaro posted worldwide revenue of $9.94 billion (up 91%) including U.S. sales of $4.8 billion, while Zepbound generated $4.93 billion in U.S. revenue (up 44% from the year-earlier period).
What is Eli Lilly's updated 2026 revenue guidance?
The company raised its 2026 revenue guidance to between $85 billion and $87 billion, up from a previous range of $82 billion to $85 billion, with full-year adjusted profit projected between $35.50 and $36.50 per share.
