Eli Lilly Reports Strong Earnings, Raises Full-Year Outlook

HOUSTON, Texas – Eli Lilly and Company announced its third-quarter earnings on Thursday, reporting results that exceeded analyst expectations and raised its full-year revenue forecast. The pharmaceutical giant credited strong demand for its weight loss drug Zepbound and diabetes treatment Mounjaro for this success.

Shares of Eli Lilly rose 5% in premarket trading following the news. The company now anticipates that its fiscal 2025 revenue will be between $63 billion and $63.5 billion, an increase from its earlier guidance of $60 to $62 billion. Adjusted profit for the year is forecasted between $23 and $23.70 per share, up from the previous outlook of $21.75 to $23 per share.

Eli Lilly’s outlook includes the existing tariffs imposed by the President but does not account for any potential new levies on pharmaceutical imports into the U.S. Mounjaro generated $6.52 billion in revenue for the quarter, marking a 109% increase from the same period last year and surpassing analyst expectations of $5.51 billion.

Zepbound, introduced to the market two years ago, reported $3.57 billion in revenue, which is a 184% increase year-over-year and slightly higher than the $3.5 billion Wall Street anticipated, according to StreetAccount.

For the third quarter, Eli Lilly posted total revenue of $17.60 billion, reflecting a 54% growth from last year. Sales in the U.S. grew by 45%, amounting to $11.30 billion. A 60% increase in the volume of prescriptions and units sold for its products, primarily Mounjaro and Zepbound, significantly contributed to this growth, despite lower realized prices for the drugs.

The company reported a net income of $5.58 billion, or $6.21 per share, a considerable increase from $970.3 million, or $1.07 per share, a year earlier. After accounting for one-time items, Eli Lilly’s adjusted earnings for the quarter stood at $7.02 per share.

These results emphasize Eli Lilly’s strong market position in the rapidly growing GLP-1 drug category. The company has captured a significant market share over the past year, aided by the popularity of its injections and direct-to-consumer sales strategies. Eli Lilly is also focusing on its experimental obesity pill, orforglipron, to maintain its competitive edge as rivals like Novo Nordisk work to release their own treatments.

On Thursday, Novo Nordisk announced plans to acquire a U.S. obesity biotech firm, Metsera, aiming to close the gap with Eli Lilly.

This story is developing. Please check back for further updates.