LLY · Earnings call · 2026Q3T · Full report

International Incretin Competition

ELI LILLY & Co · 2026-10-29 · Importance 11 · Surprise 24

Lilly said it maintained share and continued to grow in India, Brazil, and Canada despite generic launches. Management described out-of-pocket willingness to pay for incretins as substantial in international markets and said penetration remains in the low single digits overall, leaving significant long-term growth potential. In the UK, where penetration is closer to U.S. levels after more than two years, growth has moderated as expected. Lilly reported type 2 diabetes reimbursement in nine European markets and said it will continue seeking broader reimbursement while applying a disciplined pricing approach.

Key facts

• International incretin aggregate trends increased 53% year over year, measured by IQVIA gross sales.
• Lilly gained nearly 4 percentage points of international incretin share compared with Q2 2026, reaching approximately 58%.