Eli Lilly and Co. (NYSE:LLY) on Thursday reported better-than-expected third-quarter earnings and boosted its annual forecast, sending the stock higher.
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The U.S. weight loss drug giant reported quarterly revenue of $17.60 billion, up 54% year over year, beating the consensus of $16.02 billion, driven by a 62% increase in volume, partially offset by a 10% decrease due to lower realized prices.
Key Products revenue grew to $11.98 billion in Q3 2025, led by Mounjaro and Zepbound.
The company reported an adjusted earnings per share of $7.02, a sharp jump from $1.18 a year ago, beating the consensus of $5.70.
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Weightloss Drugs
Mounjaro’s revenue increased 109% for the quarter to $6.52 billion. U.S. revenue was $3.55 billion, an increase of 49%, reflecting strong demand, partially offset by lower realized prices.
Revenue outside the U.S. increased to $2.97 billion compared with $728.0 million in Q3 2024, primarily driven by volume growth.
U.S. Zepbound revenue increased 184% to $3.57 billion, primarily driven by increased demand, partially offset by lower realized prices.
Verzenio (a breast cancer drug) revenue increased 7% to $1.47 billion, driven by volume growth.
Gross profit increased 57% to $14.59 billion. Gross margin was 82.9%, an increase of 1.9 percentage points, driven by a favorable product mix, partially offset by lower realized prices.
Outlook
Eli Lilly raised fiscal year 2025 sales guidance from $60 billion-$62 billion to $63 billion-$63.5 billion versus the consensus of $61.65 billion.
The obesity drug maker raised 2025 adjusted earnings guidance from $21.75-$23.00 to $23-$23.70 versus the consensus of $22.18.
On Wednesday, Eli Lilly announced a planned investment of more than $1.2 billion to expand and modernize its Lilly del Caribe manufacturing site in Carolina, Puerto Rico.
Construction on the expanded oral solid medicine product manufacturing facility is estimated to begin in 2026, with plans to start producing medicine by the end of 2028.
The new investment will integrate advanced technologies and expand production capacity to support the portfolio of oral solid medicines in cardiometabolic health, neuroscience, oncology, and immunology.
The enhanced facility will be among those that will manufacture orforglipron, Lilly’s first oral weight loss drug.
Lilly estimates the project will generate up to 1,000 construction jobs and 100 additional high-tech manufacturing positions.
LLY Price Action: Eli Lilly shares were up 2.29% at $832.16 at the time of publication on Thursday, according to Benzinga Pro data.
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