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COMMERCIAL
Lilly posts another ‘blowout quarter’ as focus turns to Foundayo launch
Eli Lilly reported record earnings in the first quarter of 2026, driven by strong overseas sales of Mounjaro (a GLP-1 diabetes and weight-loss drug). The company is now focused on launching Foundayo, its new pill form of the drug, which the FDA approved in April, and says 80% of early prescriptions are going to patients trying GLP-1 drugs for the first time.
Analysis
Lilly's 60% US GLP-1 share and Mounjaro's $8.7B quarter cement dominance over Novo, while Foundayo's 80% new-to-class uptake suggests pill expands rather than cannibalizes the market.
- Q1 2026 revenue rose 56% to $19.8B, beating estimates by $2B+
- Mounjaro/Zepbound sales more than doubled to $8.7B
- Lilly holds 60%+ US GLP-1 share vs Novo's 39.4%
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