Eli Lilly Raises 2026 Sales Outlook on Mounjaro, Zepbound Strength

Eli Lilly reported Q3 revenue of $24.4B (+39% YoY) and adjusted EPS of $7.48, beating estimates. Shares rose 6% to $1,370. The company raised full-year guidance and increased its price target to $1,500. Strong performance was driven by obesity and diabetes drugs Mounjaro and Zepbound, with Foundayo underperforming.

Eli Lilly's retatrutide showed over double the weight loss of Ozempic's highest dose in clinical trials, according to new data. The results were discussed by Professor Donal O'Shea, an anti-obesity specialist.

Eli Lilly's shares rose 5% after Q3 revenue increased 39% to $24.4B, beating estimates. The company raised 2026 revenue guidance by $5.5B. Mounjaro and Zepbound sales grew 65% and 49%, respectively. Gross margin improved to 83.9%, but one-time benefits and deal charges impacted EPS guidance.

Three major US drugmakers—Eli Lilly, Merck, and Bristol Myers Squibb—reported record quarterly revenue and raised annual forecasts, citing strong demand for treatments. Despite Trump's pricing pressure, shares rose significantly. The companies expect volume growth to offset any price reductions. The White House highlighted savings programs as accomplishments.

Eli Lilly reported Q3 2026 revenue of $24.5B, up 39% YoY, and raised full-year guidance to $91-92B. Mounjaro and Zepbound combined for $16B in revenue. CEO Dave Ricks cited strong growth in new pharmaceutical categories. Non-GAAP EPS was $7.48, including $4.57 in acquired R&D charges. The company expects continued volume growth but notes 2026 benefited from $2B in one-time items.

Eli Lilly's shares hit a record high after strong Q3 earnings, driven by obesity drug sales. The company raised its full-year revenue forecast, adding $80B to its market cap. Analysts praised its performance and growth prospects, with Kisunla sales exceeding estimates.