Eli Lilly shares jump 6% as drugmaker lifts 2026 revenue forecast

Eli Lilly (LLY) raised its annual revenue guidance to $91B-$92B, reporting $24.4B in Q3, including $900M in benefits. Shares rose 7% to $1,379. The company cited milestones and adjustments for the gains, with demand for Mounjaro and Zepbound in focus.

Eli Lilly reported Phase 3 trial results for retatrutide, showing participants lost 20-21% body weight, more than double Ozempic's results. The drug also improved blood sugar control. Lilly plans regulatory submission in 2027, positioning it as a potential major treatment for Type 2 diabetes and obesity if approved.

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.