Eli Lilly blows past Q3 estimates and raises full-year guidance on Mounjaro/Zepbound strength; shares jump ~9% (Oct 29)

What happened

Eli Lilly reported Q3 adjusted EPS of $7.48 per share versus $5.68 expected by analysts surveyed by FactSet, on revenue of $24.4 billion versus $22.58 billion expected (up from $17.6 billion a year earlier). The tirzepatide franchises carried the beat: Mounjaro (type 2 diabetes) posted $10.72 billion in sales versus $10 billion expected, and Zepbound (weight loss) posted $5.35 billion versus $5.05 billion expected. Lilly hiked its full-year guidance, now calling for adjusted EPS of $35.50 to $36.50 (Street $33.93) and revenue of $91 to $92 billion (Street $88.82 billion). Shares popped nearly 5% in premarket trading to $1,351, retaking a buy point at $1,292.65 out of a cup base, and added nearly 9% at Thursday's open.

Who’s affected

• LLY (Eli Lilly) — beat driven by Mounjaro/Zepbound demand; ~9% open gain
• NVO (Novo Nordisk) — main rival; competitive read-through negative-to-neutral
• Pharma / obesity-drug trade — sector sentiment lift from GLP-1 demand surprise

Sources

investors.cominvestopedia.com