Eli Lilly says it now expects 2026 revenue of $85 billion to $87 billion

Eli Lilly reported second-quarter 2026 results on August 5, 2026, and said it raised its full-year 2026 revenue range. Revenue rose 48% to $23 billion, driven mainly by higher Mounjaro and Zepbound volume. On a GAAP basis, earnings per share were $7.94, up 26%, and non-GAAP earnings per share were $8.38, up 33%. Both figures include $3.03 of acquired IPR&D charges, compared with $0.14 a year earlier.

The company said its underlying non-GAAP earnings per share outlook rose $2.78 at the midpoint, a gain more than offset by the $3.03 of second-quarter acquired IPR&D charges from business development. The company also said the 2026 range assumes about 894 million shares outstanding.

Eli Lilly completed acquisitions of Orna Therapeutics, Inc., Ajax Therapeutics, Inc., Centessa Pharmaceuticals plc and Kelonia Therapeutics, Inc. during the second quarter. After quarter end, it completed three acquisitions to build an infectious disease portfolio and agreed to acquire AtaiBeckley, Inc. It also committed an additional $4.5 billion to expand Indiana manufacturing sites.

The U.S. FDA approved Ebglyss for one maintenance dose every eight weeks in moderate-to-severe atopic dermatitis. The European Commission approved Jaypirca as monotherapy for adults with chronic lymphocytic leukemia across all lines of therapy. The company submitted orforglipron for type 2 diabetes in the U.S.

Three additional Phase 3 trials of retatrutide in obesity produced positive data. The company said the clinical data package is now complete to support global registrations for obesity, obstructive sleep apnea and knee osteoarthritis pain. It plans to submit a Biologics License Application to the U.S. FDA in the first quarter of 2027.