Eli Lilly and Firm’s emblem is displayed throughout a press convention in Houston, Texas, U.S., Sept. 23, 2025.
Antranik Tavitian | Reuters
Eli Lilly on Wednesday posted fourth-quarter earnings and income and 2026 steerage that blew previous estimates, as demand for its blockbuster weight reduction drug Zepbound and diabetes therapy Mounjaro soars.
The pharmaceutical big anticipates its 2026 income will are available in between $80 billion and $83 billion. Analysts anticipated income of $77.62 billion, based on LSEG.
Lilly additionally anticipated adjusted earnings to be between $33.50 and $35 per share for the yr. That compares with analysts’ estimate of $33.23 per share, based on LSEG.
The outcomes come after rival Novo Nordisk on Tuesday warned that it sees gross sales and revenue declining this yr, as costs fall within the U.S. and exclusivity expires for its blockbuster weight problems and diabetes medication in China, Brazil and Canada.
Lilly is working to keep up its dominance within the booming marketplace for these medication, referred to as GLP-1s, as Novo sees an explosive U.S. launch for its new Wegovy tablet for weight problems. Lilly hopes to win approval for its personal oral weight reduction drug, orforglipron, later this yr.
Here is what the corporate reported for the fourth quarter in contrast with what Wall Avenue was anticipating, based mostly on a survey of analysts by LSEG:
- Earnings per share: $7.54 adjusted vs. $6.67 anticipated
- Income: $19.29 billion vs. $17.96 billion anticipated
The corporate posted fourth-quarter income of $19.29 billion, up 43% from the identical interval a yr in the past.
Income within the U.S. climbed to $12.9 billion. Eli Lilly mentioned that was pushed by a 50% enhance in quantity — or the variety of prescriptions or models offered — for its merchandise, primarily for Mounjaro and Zepbound. That was partially offset by decrease realized costs of these medication, the corporate mentioned.
The pharmaceutical big booked web revenue of $6.64 billion, or $7.39 per share, for the fourth quarter. That compares with web revenue of $4.41 billion, or $4.88 per share, a yr earlier.
Excluding one-time objects related to the worth of intangible property and different changes, Eli Lilly posted earnings of $7.54 per share for the fourth quarter.
Novo and Lilly in November introduced landmark offers with President Donald Trump to slash the costs of their top-selling weight problems and diabetes medication, that are anticipated to ultimately enhance the variety of prescriptions however in the end harm whole gross sales.
Underneath the agreements, Lilly and Novo agreed to slash the costs of these therapies for Medicare and Medicaid beneficiaries in 2026 and supply them on to customers at a reduction on the Trump administration’s direct-to-consumer platform, TrumpRx, which has but to launch.
In return, each firms may also get a three-year exemption from tariffs.
In an unique interview with CNBC on Friday, Lilly CEO Dave Ricks acknowledged that below the drug pricing deal, there will likely be “a step down in pricing” early this yr. However he mentioned quantity development of the corporate’s medication “will ramp on the again half of the yr.”
