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Lilly Q3 Revenue Beats Estimates, Raises 2026 Outlook

By Drooid · Oct 29, 2026 · How we work

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Summary

Eli Lilly reported Q3 2026 revenue of $24.4 billion, up 39% year over year, beating the $22.6 billion consensus.
Adjusted earnings per share rose to $7.48, surpassing the $6.26 analyst estimate.
Mounjaro sales reached $10.72 billion, a 65% increase.
Zepbound generated $5.35 billion in sales, up 49% year over year.
Lilly raised its full-year 2026 revenue outlook to $91-$92 billion from $85-$87 billion.

Summary

Retatrutide caused patients to lose 44–47 pounds, about double the 21-pound loss with Ozempic.
A1C fell 2.2 percentage points on retatrutide versus 1.8 points on Ozempic after 80 weeks.
Lilly will submit retatrutide to the FDA in early 2027, aiming for a 2028 launch.
Lilly warned that unapproved “reta” powders are being sold on the gray market.
Analyst David Risinger projects retatrutide could generate about $15 billion in sales by 2032.

History

In March 1998 the FDA approved Pfizer’s sildenafil (Viagra), the first oral erectile-dysfunction drug, after researchers repurposed a 1989 hypertension candidate. Its $1.9 billion 2008 peak made it a blockbuster and spurred a new era of high-revenue specialty drugs. Today Eli Lilly’s Mounjaro and Zepbound follow that model, with analysts projecting multibillion-dollar sales.

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In March 1998 the FDA approved Pfizer’s sildenafil (Viagra), the first oral erectile-dysfunction drug, after researchers repurposed a 1989 hypertension candidate. Its $1.9 billion 2008 peak made it a blockbuster and spurred a new era of high-revenue specialty drugs. Today Eli Lilly’s Mounjaro and Zepbound follow that model, with analysts projecting multibillion-dollar sales.

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