Eli Lilly reports $23 billion Q2 revenue driven by metabolic drugs

Eli Lilly reported strong second-quarter results driven by its cardiometabolic portfolio, specifically the tirzepatide-based medications Mounjaro and Zepbound. Total revenue reached $23 billion, representing a 48% increase, with Mounjaro revenue alone accounting for a significant portion of the quarterly earnings.

Despite some investor concerns regarding declining realized prices due to competitive pricing and rebates, the company has raised its full-year revenue guidance to a range of $85 billion to $87 billion. This upward revision signals management confidence in the sustained momentum of its metabolic drugs.

Looking ahead, the company is developing a pipeline of new treatments, including retatrutide, a weekly injection targeting three receptors for weight loss, which is expected to undergo regulatory application in early 2027. The company also saw contributions from Foundayo, an oral obesity pill approved in April 2026.