Eli Lilly raised its full-year 2026 sales forecast after third-quarter revenue and earnings beat analyst estimates. The company now expects revenue of $91 billion to $92 billion, up from its earlier guidance of $85 billion to $87 billion. Its shares rose about 7% on Thursday, according to the report.
Demand for Zepbound and Mounjaro drove the results. Mounjaro's worldwide revenue rose 65% to $10.72 billion, above the $10.10 billion analysts expected, according to StreetAccount. Zepbound posted $5.35 billion in revenue, up 49% from a year earlier and above the $5.09 billion forecast.
Sales of Foundayo, Lilly's new GLP-1 obesity pill approved in the U.S. in April, came in at $184 million. That was below analyst estimates of about $229 million. Lilly CFO Lucas Montarces said U.S. prescriptions for Foundayo and new patients both doubled from the previous quarter. He also said about 4 in 10 patients starting an oral obesity medicine choose Foundayo.
The report said Lilly held 63% of the U.S. obesity and diabetes drug market in the third quarter, compared with 36.6% for Novo Nordisk. CEO Dave Ricks told CNBC that he estimates 3% to 10% of eligible patients in the U.S. currently access obesity care, and he described the room for expansion as "dramatic."
Lilly's adjusted earnings guidance for 2026 is $35 to $36 per share, compared with a previous range of $35.50 to $36.50. The company said the underlying profit guidance rose by $4.07 per share at the midpoint, but that increase is offset by $4.57 per share in charges tied to deals made in the quarter. Lilly also agreed to buy Merida Biosciences to develop treatments for serious autoimmune and allergic diseases.