LLY · 10-Q · 2026Q2 · Full report

Market Demand Trends

ELI LILLY & Co · 2026-08-05 · Importance 69 · Surprise 64

Mounjaro and Zepbound accounted for 65 percent of Lilly’s total revenue in the six months ended June 30, 2026, reflecting strong demand for incretin medicines. U.S. Mounjaro revenue increased 45 percent in the second quarter and 51 percent in the first six months, while U.S. Zepbound revenue increased 44 percent and 58 percent, respectively. Outside the U.S., Mounjaro revenue rose to $5.2 billion in the quarter and $9.6 billion for the six months, primarily from volume growth, although China’s addition of Mounjaro to the National Reimbursement Drug List reduced realized prices. Demand and uptake in new incretin channels, including U.S. Medicare access for Zepbound and Foundayo, are expected to materially influence near-term performance.

Key facts

• The Company stated that incretin volume fluctuations due to channel dynamics or demand can have a disproportionate impact on results of operations in any given period. source