Eli Lilly Boosts Full-Year Revenue Forecast on Surging GLP-1 Drug Sales

Eli Lilly (LLY) raised its full-year revenue forecast on Wednesday after blockbuster sales of its popular GLP-1 drugs for diabetes and weight loss significantly beat Wall Street expectations, signaling resilient demand in a highly competitive market. The company's shares rose 5% in premarket trading following the announcement.

Blockbuster Drug Performance

The strong quarterly results were fueled by the continued success of its flagship treatments. According to the company's report for the quarter ended June 30:

• Sales of diabetes drug Mounjaro surged 91% to $9.94 billion, surpassing analyst estimates.
• Obesity drug Zepbound generated $4.93 billion in revenue, also beating expectations of $4.73 billion.
• Together, the two drugs accounted for 64.7% of Eli Lilly's total revenue in the quarter.

Lilly noted that strong sales volumes globally were the primary driver of growth, though lower realized prices partially offset these gains. However, sales of Foundayo, the company's new once-daily obesity pill, came in at $98 million, slightly missing the average analyst expectation of $105.6 million.

Updated Financial Outlook

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Based on the sustained demand, Eli Lilly lifted its full-year revenue guidance to a range of $85 billion to $87 billion, up from its previous forecast of $82 billion to $85 billion. The company reported a strong quarterly adjusted earnings per share of $8.38, well ahead of the $6.01 consensus estimate compiled by LSEG.

However, the company slightly narrowed its full-year profit outlook, citing charges related to business activity. The new forecast for 2026 adjusted earnings per share is $35.50 to $36.50, compared to the prior range of $35.50 to $37.

Market Context and Competition

Eli Lilly's results underscore its strong position alongside rival Novo Nordisk in the lucrative market for obesity treatments, which data firm IQVIA valued at $66 billion in 2025. The announcement came just a day after Novo Nordisk also raised its own sales and profit forecasts.

Analysts at J.P. Morgan reiterated that Eli Lilly remains their top pick, seeing "further upside to Street numbers over the next several years." The report reassures investors that demand remains robust despite intensifying competition and pricing pressures, with future growth dependent on expanded insurance access and international sales.