✎ Contributed by Ty Griffin
Eli Lilly raised its full-year revenue outlook after third-quarter earnings and sales exceeded Wall Street expectations. The company now expects 2026 revenue of $91 billion to $92 billion, up from its previous forecast of $85 billion to $87 billion, as demand for obesity treatment Zepbound and diabetes drug Mounjaro continued to surge.
Mounjaro revenue climbed 65% to $10.72 billion, while Zepbound sales increased 49% to $5.35 billion. Both products surpassed analyst estimates despite lower realized prices in the U.S. Lilly’s newer oral obesity treatment, Foundayo, generated $184 million in sales, falling short of expectations of approximately $229 million.
Market Reaction
- Eli Lilly and Co. (NYSE: LLY): $1,372.71, up $82.42 (6.39%)
- Novo Nordisk A/S (NYSE: NVO): $38.84, up $0.55 (1.44%)
- Amgen Inc. (NASDAQ: AMGN): $458.26, up $6.43 (1.42%)
- Pfizer Inc. (NYSE: PFE): $29.68, up $0.23 (0.80%)
- Viking Therapeutics Inc. (NASDAQ: VKTX): $27.15, up $1.79 (7.06%)
Investor Sentiment
Lilly’s results reinforced confidence that the obesity-treatment market has substantial room to expand. The company estimates that only 3% to 10% of eligible U.S. patients currently receive obesity care, while expanded Medicare coverage and international demand could support continued prescription growth.
The strong market reaction also lifted other companies developing or selling metabolic treatments. Investors will watch competition from Novo Nordisk, Amgen, Pfizer and Viking Therapeutics, along with pricing pressure, insurance coverage and manufacturing capacity, as drugmakers race to capture a larger share of the fast-growing GLP-1 market.
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