LLY · 10-Q · 2026Q2

ELI LILLY & Co

Filed 2026-08-05 · Healthcare · View original filing on EDGAR

Ranked Events

• Outstanding Indebtedness and FinancingImportance 79 · Surprise 66
  Lilly issued $9.0 billion of long-term debt in May 2026 for general corporate purposes, including repayment of commercial paper and funding acquisition-related cash consideration and fees. Total debt was $54.9 billion…
• Outstanding Indebtedness and Credit FacilitiesImportance 79 · Surprise 66
  Lilly issued $9.0 billion of long-term debt in May 2026 for general corporate purposes, including repaying commercial paper and funding part of the Centessa and Kelonia acquisition consideration. Total debt was $54.9…
• Acquired IPR&D ChargesImportance 77 · Surprise 82
  Acquired in-process research and development charges were $2,776 million in the second quarter of 2026 and $3,360 million in the first six months. The six-month 2026 amount compared with $1,726 million in the first six…
• Operating Expense Trends - SG&AImportance 73 · Surprise 66
  Marketing, selling, and administrative expense increased 25% to $3,430 million in the second quarter of 2026 from $2,753 million in the second quarter of 2025. Six-month expense increased 22% to $6,364 million from…
• Operating Expense Trends - R&DImportance 73 · Surprise 66
  Research and development expense increased 14% to $3,819 million in the second quarter of 2026 from $3,336 million in the prior-year quarter. Six-month R&D expense increased 21% to $7,329 million from $6,070 million.…
• Acquisition Activity and IPR&DImportance 71 · Surprise 60
  Lilly paid $13.3 billion during the first six months of 2026 for business-development activity, primarily acquisitions of Centessa, Kelonia, Orna, Ventyx, and Ajax. In July 2026, Lilly paid approximately $2.0 billion…
• Income Tax Rate ChangesImportance 71 · Surprise 82
  The effective tax rate increased to 23.3% in the second quarter of 2026 from 16.5% in the second quarter of 2025, while income taxes increased to $2,152 million from $1,116 million. For the first six months, the…
• Geographic Market Commentary - China & InternationalImportance 69 · Surprise 64
  Mounjaro revenue outside the U.S. increased to $5.2 billion in the second quarter and $9.6 billion for the first six months, from $1.9 billion and $3.1 billion in the prior-year periods. The international volume…
• Market Demand - Anti-ObesityImportance 69 · Surprise 64
  Mounjaro and Zepbound accounted for 65 percent of Lilly’s total revenue for the six months ended June 30, 2026, underscoring the scale of demand for incretin medicines. U.S. Mounjaro revenue increased 45 percent in the…
• Gross Margin DriversImportance 69 · Surprise 64
  Gross margin increased to $19,706 million in the second quarter and $35,928 million in the first six months of 2026, from $13,110 million and $23,614 million, respectively, in the comparable 2025 periods. Gross margin…
• Product Revenue - ZepboundImportance 69 · Surprise 64
  Zepbound generated $4,873 million of U.S. revenue and $4,928 million of outside-U.S. revenue in the second quarter of 2026, compared with $3,381 million of total revenue in the prior-year quarter. Six-month Zepbound…
• Product Revenue - MounjaroImportance 69 · Surprise 64
  Mounjaro generated $9,943 million in second-quarter 2026 revenue, compared with $5,199 million in the second quarter of 2025, and $18,605 million for the first six months, compared with $9,041 million. U.S. Mounjaro…
• Revenue Performance and MixImportance 69 · Surprise 64
  Revenue increased to $22,974 million in the second quarter and $42,773 million in the first six months of 2026, from $15,558 million and $28,286 million, respectively, in the comparable 2025 periods. Growth was driven…
• Business Development / AcquisitionsImportance 65 · Surprise 60
  Lilly paid $13.3 billion during the first six months of 2026 for business development activity, primarily involving Centessa, Kelonia, Orna, Ventyx, and Ajax. In July 2026, Lilly paid approximately $2.0 billion to…
• Incretin Revenue ConcentrationImportance 56 · Surprise 24
  Mounjaro and Zepbound represented 65% of Lilly’s total revenue for the six months ended June 30, 2026. Lilly expects cardiometabolic health products to remain a significant and growing part of its business, revenue,…
• Revenue Concentration RiskImportance 56 · Surprise 24
  Mounjaro and Zepbound accounted for 65% of Lilly's total revenue for the six months ended June 30, 2026. The two products generated approximately $27.7 billion of combined six-month revenue based on reported product…
• Medicare GLP-1 Bridge ProgramImportance 47 · Surprise 60
  Under voluntary agreements with the U.S. government, Lilly agreed to lower Medicaid and certain other drug prices and adopt a more balanced pricing approach across developed nations. The Medicare GLP-1 Bridge Program…
• Liquidity and Cash PositionImportance 46 · Surprise 30
  Cash and cash equivalents increased to $9.0 billion at June 30, 2026 from $7.3 billion at December 31, 2025. Total investments increased to $3.9 billion from $2.9 billion over the same period. Lilly also had…
• Regulatory Approval - FoundayoImportance 44 · Surprise 60
  The FDA approved orforglipron, marketed as Foundayo, for treatment of obesity. Lilly launched Foundayo in the U.S. during the second quarter of 2026 and submitted it to the FDA for type 2 diabetes. The company also…
• Capital Return ProgramImportance 43 · Surprise 6
  Lilly repurchased $4.0 billion of shares during the first six months of 2026. The purchases were made under a $15.0 billion authorization approved in December 2024, with $7.0 billion remaining at June 30, 2026. Lilly…

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