Eli Lilly reported a strong second quarter of 2026, with revenue rising 48% to $23.0 billion, driven primarily by Mounjaro and Zepbound volume. Reported earnings per share increased 26% to $7.94, while non-GAAP EPS rose 33% to $8.38, though both measures included $3.03 of acquired IPR&D charges tied to recent business development activity.
The company raised its full-year 2026 revenue guidance to $85.0 billion to $87.0 billion and lifted underlying non-GAAP EPS guidance by $2.78 at the midpoint, after factoring in strong business performance and the offset from second-quarter acquired IPR&D charges. Lilly now expects full-year non-GAAP EPS of $35.50 to $36.50.
Mounjaro and Zepbound remained the main growth engines. Worldwide Mounjaro revenue increased 91% to $9.9 billion, while Zepbound revenue rose 46% to $4.9 billion. Lilly said U.S. revenue increased 33% to $14.4 billion, and revenue outside the U.S. climbed 80% to $8.6 billion, supported by volume growth and the addition of Mounjaro to China’s reimbursement list.
The company also highlighted regulatory and pipeline progress. The FDA approved Ebglyss for one maintenance dose every eight weeks in moderate-to-severe atopic dermatitis, and the European Commission approved Jaypirca as monotherapy for adults with chronic lymphocytic leukemia across all lines of therapy. Lilly also submitted orforglipron for type 2 diabetes in the U.S.
Pipeline updates included positive data from three additional Phase 3 retatrutide obesity trials, with Lilly saying the data package is now complete to support global registrations in obesity, obstructive sleep apnea and knee osteoarthritis pain. The company plans to submit a Biologics License Application for retatrutide to the FDA in the first quarter of 2027.
Lilly said it also completed several acquisitions during the quarter and committed an additional $4.5 billion to expand Indiana manufacturing sites.
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