# Lilly Lifts 2026 Sales Forecast to $92B as Mounjaro and Zepbound Surge—But Profit Tells a Different Story - Link: https://tectonicsmediapublications.com/eli-lilly-q3-2026-mounjaro-zepbound-92-billion-sales-profit-outlook/ - Published: 2026-10-29T21:04:49+00:00 - Author: News Team **October 29, 2026 —** Eli Lilly raised its full-year revenue forecast to **$91 billion–$92 billion** after third-quarter sales climbed 39% to $24.4 billion, led by its diabetes and obesity medicines. The numbers show the scale of demand for injectable treatments—but they also reveal why investors must distinguish booming sales from the costs of developing the next generation of drugs. ## Two medicines account for most of the growth Lilly’s [October 29 earnings release](https://investor.lilly.com/news-releases/news-release-details/lilly-reports-third-quarter-2026-financial-results-raises-full) reports third-quarter Mounjaro sales of **$10.723 billion**, up 65% year over year, and Zepbound sales of **$5.352 billion**, up 49%. Combined, those products brought in about $16.1 billion—roughly two-thirds of Lilly’s $24.397 billion quarterly revenue. Mounjaro is marketed for type 2 diabetes and Zepbound for obesity in the United States; the figures are product sales, not patient outcomes. The $24.4 billion quarterly total compares with $17.6 billion in the same period of 2025. Lilly said approximately **$900 million** of third-quarter revenue reflected benefits primarily from a Jardiance milestone payment and favorable revisions to rebate and discount estimates. That matters when judging how much of the reported acceleration may repeat in future quarters. ## Why the new $92 billion ceiling is not a profit forecast The company lifted its 2026 revenue guidance from the prior $85 billion–$87 billion range to **$91 billion–$92 billion**. Comparing the midpoints gives an increase of $5.5 billion. Guidance is management’s forecast, not revenue already earned, and it may change. Meanwhile, reported earnings per share reached $7.22 and non-GAAP earnings per share reached $7.48. Lilly’s updated full-year non-GAAP EPS guidance is $35–$36, reflecting substantial charges for acquired in-process research and development. The company’s release says its underlying earnings outlook improved before those acquisition-related charges. Strong product demand and heavy investment can therefore coexist without producing an equally dramatic rise in near-term reported earnings. ## The next competitive test: access, pricing and the pipeline Demand for Mounjaro and Zepbound remains central to Lilly’s business, but unit growth, realized prices, reimbursement policies and manufacturing capacity will influence how much of that demand converts into durable revenue. [Reuters reported](https://www.reuters.com/business/healthcare-pharmaceuticals/eli-lilly-lifts-revenue-outlook-weight-loss-drug-sales-trims-profit-view-deal-2026-10-29/) that price reductions partly offset volume gains, while Lilly’s newer oral obesity treatment Foundayo generated $184 million in quarterly sales, below market expectations. Lilly also highlighted clinical-trial progress for retatrutide and other investigational treatments. Promising trial results do not mean a drug has secured all regulatory approvals or will achieve commercial success. Its pipeline and acquisitions may broaden the business beyond its current leading products, but development, regulatory and pricing risks remain. ## What the numbers mean The most important distinction is between _current sales_, _one-time accounting or milestone benefits_, and _future forecasts_. Lilly has demonstrated exceptionally rapid growth in two major franchises; it has not demonstrated that the same pace will continue indefinitely. Future reports will show whether increased access and prescription volumes outweigh pricing pressure and the expense of building the next portfolio. **Watch the primary-source briefing:** Lilly’s [October 29 earnings webcast and supporting materials](https://investor.lilly.com/events/event-details/q3-2026-earnings-call). This is a verified official event link, not a YouTube highlight or embedded third- party footage. _Featured photograph: illustrative, unbranded medication; not a photograph of Mounjaro, Zepbound or a Lilly facility. Photo by [Towfiqu barbhuiya / Unsplash](https://unsplash.com/@towfiqu999999)._ ## Sources and methodology * [Eli Lilly, third-quarter 2026 financial results, October 29](https://investor.lilly.com/news-releases/news-release-details/lilly-reports-third-quarter-2026-financial-results-raises-full)( primary financial disclosures). * [Reuters, October 29](https://www.reuters.com/business/healthcare-pharmaceuticals/eli-lilly-lifts-revenue-outlook-weight-loss-drug-sales-trims-profit-view-deal-2026-10-29/)( independent market and pricing context). * [Lilly earnings webcast](https://investor.lilly.com/events/event-details/q3-2026-earnings-call)( official event material). 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