Eli Lilly and Co.
Eli Lilly reported first-quarter adjusted earnings of $8.55 per share, beating the consensus of $6.66.
The company's sales reached $19.79 billion, beating the consensus of $17.62 billion.
Sales jumped 56% year over year, driven by a 65% increase in volume, partially offset by a 13% decrease due to lower realized prices.
Key Products revenue grew to $13.4 billion in the quarter, led by Mounjaro and Zepbound.
Key Products revenue in the Immunology, Oncology, and Neuroscience therapeutic areas grew 160%.
Weight Loss Drugs Drive Performance
Mounjaro's revenue increased 125% to $8.7 billion. U.S. revenue was $4.2 billion, an increase of 59%, reflecting strong demand, partially offset by lower realized prices.
U.S. Zepbound revenue increased 79% to $4.1 billion, primarily driven by strong demand, partially offset by lower realized prices, including previously announced reductions in cash pay prices.
A favorable one-time adjustment to estimates for rebates and discounts in Q1 2026 partially offset lower realized prices.
"2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion," said David Ricks, Lilly chair and CEO.
Ricks further added that, "A key milestone was the U.S. FDA approval of Foundayo-the only approved GLP-1 pill that can be taken any time of day, without food and water restrictions. Foundayo will meaningfully expand the number of people who can benefit from GLP-1s. We also delivered pipeline progress across all four therapeutic areas and continued investing in Lilly's future growth through four acquisitions."
Guidance Raised For Fiscal 2026
Eli Lilly raised its fiscal 2026 adjusted earnings guidance from $33.50-$35.00 per share to $35.50-$37.00 per share compared to the consensus of $34.55.
The company also raised its sales guidance from $80 billion-$83 billion to $82 billion-$85 billion compared to the Wall Street estimate of $82.1 billion.
Strategic Acquisitions Expand Pipeline
Last week, Eli Lilly agreed to acquire Kelonia Therapeutics Inc., a clinical-stage biotechnology company pioneering in vivo gene delivery for up to $7.00 billion in cash, inclusive of an upfront payment of $3.25 billion.
On Monday, the company said to acquire Ajax Therapeutics Inc., focused on blood cancer/disorder therapies, for up to $2.3 billion in cash.
LLY Stock Price Activity: Eli Lilly shares were up 9.18% at $929.38 at the time of publication on Thursday, according to Benzinga Pro data.
