Eli Lilly (NYSE:LLY) raised its full-year outlook on Thursday after delivering third-quarter results that handily beat expectations, driven by booming demand for its obesity and diabetes treatments.
The U.S. pharmaceutical giant now expects 2025 revenue between $63 billion and $63.5 billion, up from its prior range of $60 billion to $62 billion. Analysts surveyed by Bloomberg had forecast a midpoint of $61.69 billion.
The company also raised its adjusted earnings per share guidance to between $23.00 and $23.70, compared with its previous forecast of $21.75 to $23.00.
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For the third quarter, Lilly posted revenue of $17.60 billion, up 54% year-over-year and well above expectations of $16.07 billion, according to consensus estimates.
The surge was largely fueled by strong uptake of Zepbound, the company’s blockbuster weight-loss drug approved in 2023, which continues to outpace sales of Novo Nordisk’s (NYSE:NVO) Wegovy despite the Danish rival’s early market lead in GLP-1 treatments.
Sales of Mounjaro, Lilly’s fast-growing diabetes therapy, reached $6.52 billion, also exceeding analyst expectations.
On an adjusted basis, earnings rose to $7.02 per share, up sharply from $1.18 in the same period last year and well above the $5.69 projected by LSEG data cited by Reuters.
Market Reaction
Shares of Eli Lilly climbed over 5% in premarket trading Thursday as investors welcomed the raised guidance and reaffirmed growth trajectory in its weight-loss and diabetes drug franchises.
With Zepbound and Mounjaro driving record prescription volumes, Lilly has further strengthened its lead in the competitive GLP-1 market, solidifying its position as the world’s most valuable healthcare company by market capitalization.