Eli Lilly Raises 2026 Guidance as GLP-1 Demand Drives Record Q1 Growth

Eli Lilly reported a powerhouse first quarter, characterized by massive revenue growth and a substantial upward revision of its annual outlook. The pharmaceutical giant now projects 2026 revenue between $82 billion and $85 billion, representing a $2 billion increase over previous guidance. Adjusted profit expectations were also lifted to a range of $35.50 to $37 per share. The growth is anchored by the rapid adoption of GLP-1 medications. Despite facing pricing pressures in the U.S. market and a drug pricing deal with the administration, the sheer volume of prescriptions has surged. This volume growth has more than offset lower realized prices for several key medications. Financial performance for the quarter was highlighted by Mounjaro, which booked $8.66 billion in sales—a 125% year-over-year increase that comfortably beat the $7.26 billion analyst estimate. Zepbound also showed strong momentum, posting $4.16 billion in U.S. revenue, up 80% from the prior year. Total quarterly revenue climbed 56% to $19.80 billion, with net income jumping to $7.40 billion, or $8.26 per share. Looking forward, the company is focusing on the rollout of Foundayo, its newly approved GLP-1 pill for obesity. While early prescription data suggests a modest initial launch compared to rivals, CEO Dave Ricks anticipates that global GLP-1 patient numbers will expand from 20 million at the end of last year to 30 million by the end of 2026. The company expects continued demand to drive growth despite ongoing pricing headwinds.