LLY revenue rose 48% to $23 billion last quarter, fueled by Mounjaro sales of $9.943 billion, but pricing pressures weigh on near-term outlook.
Eli Lilly reported a 47.67% revenue increase to $22.974 billion in its latest quarter, driven by Mounjaro sales of $9.943 billion. The company raised full-year guidance, with shares up 77.52% over the past year and 16.36% year-to-date, trading near $1,263.92.
Despite strong volume growth, realized prices fell 13% in Q2, and Mounjaro’s inclusion in China’s National Reimbursement Drug List may further pressure pricing. Acquired IPR&D charges of $2.78 billion and a higher effective tax rate of 23.3% added noise to earnings.
Wall Street consensus implies limited upside, but independent models target $1,463 by 2027, contingent on retatrutide’s Q1 2027 regulatory filing. A Novo Nordisk data readout remains the biggest threat to Lilly’s growth trajectory.