ELI LILLY & Co — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 42/100
What the filing says
Eli Lilly reported Q2 2026 revenue of $23.0 billion (48% YoY growth), driven by Mounjaro ($9.9B, +91%) and Zepbound ($4.9B, +44%). The company raised full-year 2026 revenue guidance to $85–87 billion (from $82–85B) and non-GAAP EPS guidance to $35.50–36.50 (from $35.50–37.00), reflecting +$2.78 upside offset by $3.03 in Q2 acquired IPR&D charges. Q2 completed acquisitions of Orna Therapeutics, Ajax Therapeutics, Centessa Pharmaceuticals, and Kelonia Therapeutics; committed $4.5 billion additional Indiana manufacturing expansion. Retatrutide obesity data package now complete; BLA submission planned Q1 2027.
Why this rating
Strong organic growth in key products and guidance raise are positive, but $4.5B capex and $2.8B IPR&D charges in single quarter reflect heavy M&A spend. Mounjaro/Zepbound growth is material (~60% of revenue growth) but pricing pressure evident globally (–13% to –36% realized prices). Relative to $808B market cap, this is solid execution, not transformational.
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