Eli Lilly (LLY) earnings Q3 2025

Eli Lilly Reports Strong Third-Quarter Earnings and Revenue

Eli Lilly & Co., a leading pharmaceutical company, has reported its third-quarter earnings and revenue, which have exceeded estimates. The company’s strong performance is attributed to the high demand for its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro. As a result, Eli Lilly’s shares rose by 5% in premarket trading on Thursday.

The pharmaceutical giant has revised its full-year outlook, expecting its fiscal 2025 revenue to be between $63 billion and $63.5 billion, up from the previous guidance of $60 to $62 billion. Additionally, the company expects its full-year adjusted profit to be between $23 and $23.70 per share, up from the previous outlook of $21.75 to $23 a share. This revised guidance reflects the existing tariffs imposed by President Donald Trump but does not include the threatened levies on pharmaceuticals imported into the U.S.

Strong Demand for Mounjaro and Zepbound

Mounjaro, a diabetes treatment, has generated $6.52 billion in revenue for the quarter, which is a 109% increase from the same period last year. This exceeds the analysts’ expectations of $5.51 billion, according to StreetAccount. Zepbound, a weight loss drug, has also performed well, with $3.57 billion in revenue for the third quarter, representing a 184% increase from the year-earlier period.

The company’s strong results are a testament to its dominance in the booming market for GLP-1s, a class of obesity and diabetes drugs. Eli Lilly has gained the majority market share over the last year, thanks to the strong profile of its weight loss and diabetes injections and a boost from its direct-to-consumer sales. The company has also taken steps to increase access to Zepbound, partnering with Walmart to offer in-store pickup of discounted vials of the drug for cash-paying patients.

Experimental Obesity Pill and Market Competition

Eli Lilly is now betting on its experimental obesity pill, orforglipron, to solidify its dominance in the space. The company is facing competition from Novo Nordisk and other drugmakers, who are racing to bring their own pills or next-generation injections to the market. In a recent development, Novo Nordisk has launched a rival bid for U.S. obesity biotech company Metsera, hijacking an offer from Pfizer. This move is seen as an attempt to catch up with Eli Lilly in the booming GLP-1 market.

The company’s third-quarter revenue was $17.60 billion, up 54% from the same period last year. Sales in the U.S. jumped 45% to $11.30 billion, driven by a 60% increase in volume for its products, primarily Mounjaro and Zepbound. The pharmaceutical giant booked net income of $5.58 billion, or $6.21 per share, for the third quarter, compared to net income of $970.3 million, or $1.07 per share, a year earlier.