Eli Lilly reported third-quarter earnings and revenue that blew past estimates and hiked its full-year sales outlook, as demand for its…

Eli Lilly reported third-quarter earnings and revenue that blew past estimates and hiked its full-year sales outlook, as demand for its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro soared again. Despite that strength, sales of its new GLP-1 obesity pill Foundayo, which launched in the U.S. in April, were under Wall Street’s expectations for the quarter. The pharmaceutical giant now expects 2026 revenue to come in between $91 billion and $92 billion, up from a previous guidance of $85 billion to $87 billion. Lilly’s massive diabetes and obesity windfall – and market share lead over chief rival Novo – shows no signs of slowing down, even as the company grapples with lower net prices in the U.S. The pharma giant is converting its massive profits into a deal-making spree, most recently striking an agreement to buy Merida Biosciences to develop a new class of treatments for serious autoimmune and allergic diseases. Resilient demand for Zepbound and Mounjaro has helped fuel several strong quarters for Lilly despite lower prices for the medications in the U.S., which came after a drug pricing deal struck with the Trump administration last year. In a release, Lilly also pointed to expanded U.S. coverage for obesity care, referring to Medicare’s decision to start covering GLP-1s for weight loss in July under a temporary pilot program.