Eli Lilly reported fourth-quarter revenue of $19.3 billion, surpassing analyst expectations by over $1 billion. The company’s shares increased more than 8% in pre-market trading, reaching $1,092 before the market opened compared to a previous close of $1,003.
The pharmaceutical company attributed its revenue growth to a 46% increase in sales volume, which was partially offset by a 5% decrease in realized prices. Earnings per share for the quarter were $7.54, exceeding the consensus estimate of $6.91.
U.S. revenue rose 43% year-over-year to $12.9 billion, supported by a 50% increase in volume but tempered by a 7% price decline, particularly affecting Mounjaro and Zepbound.
Mounjaro and Zepbound generated combined sales of $11.7 billion during the quarter, beating analyst projections of $10.6 billion. According to Truist Securities, Lilly’s market share for incretin drugs climbed to 60.5%.
For the full year, Mounjaro sales nearly doubled to $22.97 billion while Zepbound grew by 175%, reaching $13.54 billion.
Novo Nordisk also saw lower revenues due to reduced drug prices and referenced the impact of former President Donald Trump’s Most Favored Nation program on pricing strategies for weight loss therapies.
Lilly has projected total revenue between $80 billion and $83 billion for 2026, above the consensus forecast of $77.5 billion. The company plans an earnings call at 10 AM ET on Wednesday.
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