Eli Lilly and Company reported financial results for the third quarter of 2026, showing a 39% increase in revenue to $24.4 billion compared to the same period in 2025. The company attributed the growth primarily to strong demand for Mounjaro and Zepbound. On a reported basis, earnings per share (EPS) for the quarter increased 16% to $7.22, while non-GAAP EPS increased 7% to $7.48. The reported and non-GAAP EPS figures for Q3 2026 included $4.57 of acquired in-process research and development (IPR&D) charges, compared to $0.71 in the prior year.
Key product revenue, which includes Ebglyss, Foundayo, Inluriyo, Jaypirca, Kisunla, Mounjaro, Omvoh, and Zepbound, grew to $17.1 billion. Revenue in the Immunology, Oncology, and Neuroscience therapeutic areas grew 100% compared to Q3 2025. Mounjaro revenue increased 65% to $10.7 billion, while Zepbound revenue increased 49% to $5.4 billion. Jardiance revenue included approximately $900 million of benefits in Q3 2026, including $410 million in sales-based milestones associated with a collaboration with Boehringer Ingelheim.
Lilly has raised its full-year 2026 financial guidance. The company increased the midpoint of its revenue guidance by $5.5 billion, now projecting revenue in the range of $91.0 to $92.0 billion. Underlying non-GAAP EPS guidance was raised by $4.07 at the midpoint. However, due to $4.57 of acquired IPR&D charges from Q3 business development activity, the updated non-GAAP EPS range is $35.00 to $36.00.
Regulatory progress in the quarter included U.S. FDA approvals for Mounjaro to reduce cardiovascular risk in adults with type 2 diabetes, Onswik for adults with type 2 diabetes, Inluriyo with Verzenio for certain breast cancers, and an expanded indication for Jaypirca in certain leukemias. Business development activity included the completed acquisition of AtaiBeckley to advance therapies for treatment-resistant depression and the subsequent completion of the acquisition of Merida Biosciences to advance treatments for autoimmune and allergic diseases.
