Eli Lilly raises 2026 revenue outlook to $87B on Mounjaro, Zepbound

Eli Lilly on August 5, 2026 reported second-quarter earnings that easily topped forecasts and raised its 2026 revenue target to $85 billion to $87 billion, as sales of weight loss drug Zepbound and diabetes treatment Mounjaro surged.

Adjusted profit is expected between $35.50 and $36.50 per share, compared with a prior outlook of $35.50 to $37. The company raised underlying profit guidance by $2.78 per share at the midpoint, offset by $3.03 in charges tied to recent deals.

Mounjaro’s worldwide revenue jumped 91% to $9.94 billion, with U.S. sales of $4.8 billion and international growth of 172%, surpassing analyst estimates. Zepbound, launched about three years ago, generated $4.93 billion in U.S. revenue, up 44% from a year earlier and beating forecasts.

Newly approved obesity pill Foundayo, which entered the U.S. market in April 2026, recorded $98 million in sales, slightly below the $103 million analysts had projected.

U.S. revenue rose 33% to $14.4 billion, driven by a 37% volume increase from Mounjaro and Zepbound, partly offset by lower realized prices. International revenue surged 80% to $8.6 billion on a 113% volume jump, while a 36% price decline reflected Mounjaro’s inclusion in China’s state insurance for Type 2 diabetes.

Net income reached $7.10 billion, or $7.94 per share, including the $3.03 in charges, up from $5.66 billion a year earlier. Excluding one-time items, earnings were $8.38 per share.

The windfall fueled an acquisition spree: Lilly struck a deal to buy a psychedelics drugmaker in July 2026 and announced plans to acquire three vaccine makers in May 2026.

Chief Executive Dave Ricks, in a late April 2026 interview, said lower prices would boost prescriptions and estimated global GLP-1 use would rise from about 20 million patients at end-2025 to 30 million by end-2026. Medicare’s new obesity drug coverage, launched in early July 2026, is expected to benefit both Lilly and Novo Nordisk in the second half of the year.