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Eli Lilly

Medicines at scale, 2026

Unite caring with discovery to create medicines that make life better for people around the world
Lilly’s purpose

Medicines at scale

Eli Lilly makes medicines for diabetes, obesity, cancer, immunology, and neuroscience. Tirzepatide, sold as Mounjaro and Zepbound, made 56% of its $65.2 billion of revenue in 2025. In its 150th year, Lilly is launching new medicines, building plants, and buying companies to meet the demand, and plans to set out more in December 2026.,,

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New medicines at scale

  • Incretins: Meet demand for Mounjaro and Zepbound, now launched in all major markets, and add Foundayo, the only GLP-1 pill that can be taken at any time of day without food or water restrictions.,
  • Other key products: Grow its newer medicines in immunology, oncology, and neuroscience, such as Ebglyss, Jaypirca, Kisunla, and Omvoh.

Filled5 August 2026

  • Revenue rose 48% to $23.0 billion in the second quarter of 2026, as volume rose 60% and prices fell 13%.
  • Key products in immunology, oncology, and neuroscience grew 121% in the second quarter of 2026.
  • Foundayo was approved in the US for obesity in April 2026 and made $98 million of sales in its first quarter.,

Tirzepatide made 56% of Lilly’s revenue in 2025

Tirzepatide is sold as Mounjaro and, for obesity in the US, Canada, and Japan, as Zepbound. Its sales grew faster than the rest of the business, and in the second quarter of 2026 it made nearly two thirds of Lilly’s revenue.,

56%

of Lilly’s revenue from Mounjaro and Zepbound, in 2025.

Each capsule is 1% of revenue.

Lilly raised its 2026 revenue guidance twice

Lilly set its 2026 revenue guidance at $80 to $83 billion in February, raised it to $82 to $85 billion in April, and to $85 to $87 billion in August. Against $65.2 billion in 2025, the latest range works out as growth of 30% to 33%.,,

606570758085902025: $65.2bn$ billions of revenue

$85–87bn

2026 revenue guidance, as given in August 2026.

Growth of 30% to 33% on 2025, worked out.,

  1. Build supply ahead of demand.

    Lilly’s 10-K lists new manufacturing sites in seven US states and three European countries, with capacity coming on over several years. We recommend planning capacity for the demand you expect, not only the demand you have.

  2. Trade price for reach.

    Lilly’s realised prices fell 13% in the second quarter of 2026 while its volume rose 60%. We recommend knowing which lever drives your growth, and being willing to give on price to reach far more customers.

  3. Fund the next wave while riding this one.

    With tirzepatide leading its growth, Lilly completed seven acquisitions between April and early August 2026, in areas from sleep-wake disorders to infectious disease. We recommend investing in the next source of growth while the current one is strong.

Sources

  1. 1. Eli Lilly and Company (2026). Annual report on Form 10-K for the year ended 31 December 2025. US Securities and Exchange Commission, 12 February 2026. sec.gov
  2. 2. Eli Lilly and Company (2026). Lilly reports fourth-quarter 2025 financial results and provides 2026 guidance. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 4 February 2026. sec.gov
  3. 3. Eli Lilly and Company (2026). Lilly reports first-quarter 2026 financial results, raises full year guidance, and highlights momentum of new medicines. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 30 April 2026. sec.gov
  4. 4. Eli Lilly and Company (2026). Lilly reports second-quarter 2026 financial results, raises full-year guidance, and highlights continued growth and pipeline progress. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 5 August 2026. sec.gov

Headwater is not connected with Eli Lilly. Lilly, Mounjaro, Zepbound, Foundayo, Ebglyss, Jaypirca, Kisunla, Omvoh, and LillyDirect are trade marks of their owners. Updated 30 September 2026.

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