Lilly’s revenue soars 48%, driven by demand for its GLP-1s

Eli Lilly reported 48% revenue growth in the second quarter, propelled by surging demand for its GLP-1 drugs. Mounjaro led the performance with $9.9 billion in sales, while weight-loss injection Zepbound posted $4.9 billion in revenue, up 46% quarter-over-quarter.

The results underscore continued momentum in the diabetes and obesity treatment market, where Lilly competes directly with Novo Nordisk. The company's GLP-1 franchise now represents a dominant share of quarterly revenue, with the two drugs alone generating nearly $15 billion in combined sales.

Zepbound's 46% sequential growth highlights accelerating adoption in the weight-loss segment, a market analysts project will reach hundreds of billions in annual sales over the next decade. Mounjaro's $9.9 billion performance exceeded prior quarters, reinforcing Lilly's position as a leader in the category despite supply constraints that have periodically limited availability throughout 2024.

The drugmaker's ability to scale production while maintaining double-digit growth rates will determine whether it can sustain market share against biosimilar competition and rival formulations entering clinical trials.