What happened: Eli Lilly (LLY) stock jumped as much as 8% on Thursday.
What’s behind the move: Eli Lily raised its full-year revenue outlook for the third time this year, buoyed by surging demand for its blockbuster diabetes and obesity treatments.
The Indianapolis-based pharmaceutical giant now expects full-year revenue of $91 billion to $92 billion, compared with its previous estimate of $85 billion to $87 billion.
Third-quarter revenue totaled $24.4 billion, topping the Wall Street consensus average estimate of $22.5 billion, according to Bloomberg data.
The results were primarily driven by Mounjaro, Lilly’s diabetes drug, which brought in $10.7 billion in sales. The company’s weight-loss treatment Zepbound generated $5.35 billion.
1,422.06 +48.36 (+3.52%)
As of 11:54:35 AM EDT. Market Open.
What else you need to know: Eli Lilly’s GLP-1 business has been the growth engine of the drug company, benefiting from several tailwinds since the start of the year, including the FDA’s approval of Foundayo, the pill version of its weight-loss drug, earlier this year.
The company is also developing next-generation weight-loss medicine retatrutide. It has clinical data in hand and plans to file for FDA approval in the first quarter of next year.
The stock, which suffered a drawdown in the first half of 2026, has risen 20% year-tp-date, according to Yahoo Finance AlphaSpace data.
Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities. Follow her on X at @ines_ferre.
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Source: finance.yahoo.com
