Eli Lilly and Company has delivered another blockbuster quarter, powered by surging demand for its weight-loss medicines Mounjaro and Zepbound.

 

At the same time, the global pharma powerhouse has raised its full-year financial guidance and advancing a pipeline that could shape its next era of growth.

 

The company reported second-quarter 2026 revenue of $23.0 billion, a 48% increase from the same period last year, driven primarily by higher volumes of Mounjaro and Zepbound.

 

Lilly also reported earnings per share of $7.94 on a reported basis, up 26%, while non-GAAP EPS climbed 33% to $8.38. Results included $3.03 per share in acquired in-process research and development (IPR&D) charges, linked to recent business development activity.

 

The company raised its 2026 revenue forecast to between $85.0 billion and $87.0 billion, while increasing its underlying non-GAAP EPS outlook by $2.78 at the midpoint. After accounting for acquired IPR&D charges, updated full-year EPS guidance now stands at $35.50 to $36.50.

 

"Lilly's momentum continues, as we delivered 48% revenue growth and raised our full-year guidance," said David A. Ricks, Lilly chair and CEO. "At the same time, Lilly is building for the future. With our next-generation weight-loss medicine retatrutide and its complete clinical data package in hand, new manufacturing capacity coming online, and exciting new assets entering our pipeline through business development, Lilly's future, after 150 years, has never been brighter."

 

Lilly’s flagship metabolic medicines continued to dominate growth. Revenue from Mounjaro jumped 91% to $9.9 billion in the second quarter, while Zepbound revenue rose 46% to $4.9 billion.

 

Overall, key product revenue reached $15.7 billion, boosted by strong performances across Immunology, Oncology and Neuroscience portfolios, which collectively grew 121% year over year.

 

U.S. revenue increased 33% to $14.4 billion, led by Mounjaro and Zepbound volume growth. International revenue surged 80% to $8.6 billion, driven largely by Mounjaro demand.

 

Lilly highlighted major progress in its next-generation obesity pipeline, announcing positive results from three additional Phase 3 trials of retatrutide.

 

The company said the complete clinical data package is now available to support global regulatory submissions for obesity, obstructive sleep apnea and knee osteoarthritis pain. Lilly plans to submit a Biologics License Application to the U.S. Food and Drug Administration in the first quarter of 2027.

 

Lilly continued aggressive expansion of its research pipeline through major acquisitions during the quarter, completing deals for Orna Therapeutics, Ajax Therapeutics, Centessa Pharmaceuticals and Kelonia Therapeutics.

 

Following the quarter, Lilly also completed three additional acquisitions focused on building an infectious disease portfolio and entered into an agreement to acquire AtaiBeckley.

 

The company also reported regulatory milestones, including: U.S. FDA approval of Ebglyss for a maintenance dose every eight weeks in moderate-to-severe atopic dermatitis.

European Commission approval of Jaypirca as a monotherapy for adults with chronic lymphocytic leukemia across all lines of therapy.

 

To support future demand, Lilly announced an additional $4.5 billion investment to expand its Indiana manufacturing sites, adding capacity as the company prepares for continued growth in obesity, diabetes and other therapeutic areas.