Lilly raises 2026 revenue guidance to $85-87 billion on Mounjaro, Zepbound growth

Eli Lilly said second-quarter 2026 revenue increased 48% to $23.0 billion driven primarily by Mounjaro and Zepbound volume.¹ The company increased its 2026 full-year revenue guidance to a range of $85.0 billion to $87.0 billion and raised underlying non-GAAP EPS guidance for the full year by $2.78 at the midpoint, which was more than offset by $3.03 of acquired IPR&D charges from Q2 business development activity, resulting in an updated EPS range of $35.50 to $36.50.¹

On the regulatory front, Lilly reported U.S. FDA approval of Ebglyss for one maintenance dose every eight weeks in moderate-to-severe atopic dermatitis, and said Jaypirca was recommended by CHMP for approval in the European Union as monotherapy for adults with chronic lymphocytic leukemia across all lines of therapy, along with the submission for orforglipron for type 2 diabetes in the U.S.¹

On the pipeline, the company said pipeline highlights included positive data from three additional Phase 3 trials of retatrutide in obesity, with the clinical data package now complete to support global registrations for obesity, obstructive sleep apnea, and knee osteoarthritis pain, and plans to submit a Biologics License Application to the U.S. FDA in the first quarter of 2027.¹

On business development, Lilly noted completed acquisitions in the quarter of Orna Therapeutics, Inc., Ajax Therapeutics, Inc., Centessa Pharmaceuticals plc, and Kelonia Therapeutics, Inc.¹, and said that subsequent to quarter end it completed three acquisitions to build an infectious disease portfolio and entered into an agreement to acquire AtaiBeckley, Inc.¹ It also committed an additional $4.5 billion to expand Indiana manufacturing sites.¹

On earnings, Q2 2026 EPS increased 26% to $7.94 on a reported basis and 33% to $8.38 on a non-GAAP basis, with both figures including $3.03 of acquired IPR&D charges compared to $0.14 in Q2 2025.¹