Eli Lilly raises full-year revenue forecast to $85 billion-$87 billion following stronger-than-expected Q2 results driven by diabetes and weight-loss drugs.
Eli Lilly posted second-quarter revenue of $23.0 billion, up 48% year-over-year, exceeding the $20.73 billion consensus estimate. The company raised its full-year revenue forecast to $85 billion-$87 billion from $82 billion-$85 billion, citing robust demand for Mounjaro and Zepbound.
Mounjaro revenue surged 91% to $9.9 billion, with U.S. sales at $4.8 billion and international sales at $5.2 billion. Zepbound generated $4.9 billion in U.S. revenue, a 44% increase, despite lower net prices. Adjusted earnings per share reached $8.38, surpassing the $6.01 estimate.
Net income rose 25% to $7.1 billion, or $7.94 per share, from $5.7 billion, or $6.29 per share, a year earlier. The company adjusted its full-year earnings outlook to $35.50-$36.50 per share, trimming the ceiling due to $3.03 per share in acquisition-related charges.