Eli Lilly and Co. stock weighs strong demand against deal charges
Published on 11/09/2026 at 13:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSStrong demand meets acquisition costs
- Third-quarter revenue rose 39 percent, led by Mounjaro and Zepbound.
- Lilly raised its 2026 revenue outlook while lowering its adjusted earnings range.
- Management is expanding manufacturing and advancing regulatory and clinical programs.
Eli Lilly and Company reported a strong third quarter on October 29, with demand for Mounjaro and Zepbound driving a sharp increase in sales. The company also raised its full-year revenue outlook, but acquisition-related research charges reduced its adjusted earnings guidance.
According to Eli Lilly and Company's earnings release, third-quarter revenue reached 24.397 billion US dollars, up 39 percent from the year-earlier period. Volume increased 53 percent, while realized prices fell 15 percent. U.S. revenue rose 34 percent to 15.1 billion US dollars, supported by a 41 percent increase in volume.
GLP-1 portfolio drives growth
Mounjaro revenue climbed 65 percent to 10.723 billion US dollars. Sales in the United States rose 41 percent to 5.0 billion US dollars, while revenue outside the country increased 93 percent to 5.7 billion US dollars. Zepbound revenue in the United States increased 48 percent to 5.352 billion US dollars, with strong demand partly offset by lower realized prices.
The figures underline Lilly's dependence on its diabetes and obesity portfolio. The company said key product revenue reached 17.1 billion US dollars, while products in immunology, oncology and neuroscience doubled their revenue from a year earlier. Gross margin as a percentage of revenue increased to 83.9 percent from 82.9 percent.
Higher sales, lower adjusted EPS
Lilly lifted its 2026 revenue guidance to 91 billion to 92 billion US dollars from 85 billion to 87 billion US dollars. The midpoint therefore increased by 5.5 billion US dollars. Its performance margin outlook also rose to 52.0 percent to 52.5 percent from 49.0 percent to 50.5 percent.
The adjusted earnings outlook moved in the opposite direction. Lilly now expects adjusted earnings per share of 35.00 to 36.00 US dollars, compared with 35.50 to 36.50 US dollars previously. Management said the underlying earnings outlook improved by 4.07 US dollars per share at the midpoint, but acquired in-process research and development charges of 4.57 US dollars per share more than offset that increase. The third-quarter charges were primarily linked to the AtaiBeckley and Curevo acquisitions.
Chief Executive David A. Ricks said broad global demand for Mounjaro and Zepbound, the launch of Foundayo and expanded U.S. obesity coverage supported the outlook. He also pointed to investments in manufacturing and technology, including new capacity in Texas and Virginia. Lilly highlighted regulatory progress for Mounjaro, Onswik, Inluriyo and Jaypirca, as well as positive clinical results for the investigational treatment retatrutide.
Stock remains tied to execution
The real-time quote of Eli Lilly and Co. stock showed the shares trading at 1,230.40 euros on Lang & Schwarz at 1:50 p.m. CET on Monday, November 9, 2026, 0.29 percent above the Xetra close of Friday, November 6. The higher sales target supports the growth narrative, while falling realized prices and acquisition charges keep attention on the quality and durability of earnings.
The S&P 500 provides the broader market backdrop for U.S.-listed Eli Lilly shares: Current market reports.
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Eli Lilly and Company
- ISIN: US5324571083
- Ticker: LLY
- Home exchange: New York Stock Exchange
- Lang & Schwarz price: 1,230.40 euros, November 9, 2026, 1:50 p.m. CET
- Change versus Xetra close: 0.29 percent above 1,226.80 euros on November 6, 2026
- Sector: Pharmaceuticals
