Eli Lilly and Company (NYSE:LLY) Raises Revenue Outlook as Diabetes Portfolio and Pipeline Advance

Aditi Sarkar

10 November 2026 02:59 PM AEDT

Eli Lilly and Company (NYSE:LLY) Raises Revenue Outlook as Diabetes Portfolio and Pipeline Advance

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Highlights

Eli Lilly recorded USD 24.4 billion in third-quarter 2026 revenue, an increase of 39% year-on-year.
Mounjaro delivered USD 10.7 billion in global quarterly revenue, while Zepbound generated USD 5.3 billion in the United States.
The company raised full-year 2026 Revenue guidance to USD 91 billion through USD 92 billion.
FDA approvals and late-stage clinical developments broadened the company's diabetes, oncology and immunology portfolios.

Eli Lilly and Company (NYSE:LLY) has reported developments spanning several priorities. Diabetes and obesity medicines remain central to Eli Lilly’s revenue expansion as its clinical portfolio develops. Its shares closed at USD 1,411.95 on November 9, 2026, moving +4.28% on the day, with Market Capitalisation of USD 1.33 trillion. The latest announcements combine reported operating results with planned Business milestones, which remain distinct from completed achievements.

Diabetes and Obesity Treatments Lead Growth

Eli Lilly recorded third-quarter 2026 revenue of USD 24.4 billion, up 39% against the preceding year. Growth was led primarily by Demand for Mounjaro and Zepbound.

Mounjaro global revenue increased 65% to USD 10.7 billion, including USD 5.0 billion in the United States and USD 5.7 billion internationally. Zepbound generated US revenue of USD 5.3 billion, up 48%. The company said overall quarterly Volume rose 53% while realised prices declined 15%.

Earnings Include Acquisition-Related Research Charges

Reported Net Income reached USD 6.5 billion and reported diluted EPS rose to USD 7.22, from USD 6.21 a year earlier. Non-GAAP diluted EPS totalled USD 7.48.

Both measures included acquired in-process Research and Development charges of USD 4.57 per share, compared with USD 0.71 a year earlier. The company reported approximately USD 900 million of benefits from milestones and other adjustments included in quarterly revenue, which are relevant when comparing underlying performance.

Clinical and Regulatory Milestones Add Breadth

Recent US regulatory approvals included expanded uses for Mounjaro, a once-weekly basal insulin called Onswik, an Inluriyo and Verzenio combination for certain breast cancer patients, and an expanded Jaypirca indication. The company also highlighted positive trial results for retatrutide in type 2 diabetes and new clinical findings in immunology.

Its Acquisition activity added research programmes in mental health and other therapeutic areas, alongside investments in manufacturing.

Updated Guidance and Planned Clinical Work

Lilly lifted its full-year 2026 revenue forecast to USD 91.0 billion–USD 92.0 billion. It set non-GAAP EPS guidance at USD 35.00–USD 36.00, incorporating its acquired research charges.

Management plans to begin Phase 3 studies of EloraTZP in the fourth quarter of 2026. These programmes remain subject to clinical and regulatory outcomes, while the full-year financial targets are company guidance.

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