Eli Lilly and company logos are shown during a press conference on September 23, 2025 in Houston, Texas, USA.
Anthranik Tavitian | Reuters
Eli Lilly reported fourth-quarter earnings and revenue and guidance for 2026 on Wednesday that beat past estimates as demand for blockbuster weight-loss drug Zepbound and diabetes treatment Munjaro continues to grow.
The pharmaceutical giant predicts revenue of $80 billion to $83 billion by 2026. According to LSEG, analysts were expecting revenue of $77.62 billion.
Lilly also expects adjusted earnings of between $33.50 and $35 per share for the year. That compares with analysts’ estimates of $33.23 per share, according to LSEG.
The results came after rival Novo Nordisk issued a warning on Tuesday will see sales and profits decline this yearPrices in the US will drop, and obesity and diabetes drug exclusivity in China, Brazil and Canada will end.
Lilly is working to maintain its dominance in the emerging market for drugs called GLP-1, Novo sees. Explosive launch of the US for the new anti-obesity pill Wegovy. Lilly hopes to get approval for an oral weight-loss drug, orforgliprone, later this year.
The company’s fourth-quarter earnings compared to Wall Street expectations, based on a survey of LSEG analysts:
- Earnings per share: Adjusted to $7.54 vs. $6.67 expected
- Input: $19.29 billion vs. $17.96 billion expected
The company’s fourth-quarter revenue was $19.29 billion, up 43% year-over-year.
Revenue in the US rose to $12.9 billion. Eli Lilly says it’s about 50% of volume, or the number of prescriptions and units sold, for its products, primarily Munjaro and Zepbound. This was partially offset by lower selling prices for these drugs, the company said.
The pharmaceutical giant posted fourth-quarter net income of $6.64 billion, or $7.39 per share. That compares with net income of $4.41 billion, or $4.88 per share, a year ago.
Eli Lilly posted fourth-quarter earnings of $7.54 per share, excluding one-time items related to the cost of intangible assets and other adjustments.
Novo and Lilly announced the highlights in November Works with US President Donald Trump lowering the prices of their top-selling obesity and diabetes drugs, which are expected to eventually boost prescriptions but ultimately hurt overall sales.
Under the agreements, Lilly and Novo agreed to lower the price of the treatments for Medicare and Medicaid beneficiaries in 2026 and offer them to consumers at a discount on TrumpRx, the Trump administration’s direct-to-consumer platform, which has not yet launched.
In turn, both companies will be exempt from tariffs for three years.
year Exclusive interview with CNBC On Friday, Lilly CEO Dave Ricks acknowledged that there would be “price reductions” earlier this year under the drug’s price agreement. But he said the company’s drug volume growth will “pick up in the last half of the year.”