Eli Lilly to Report Q1 Earnings Before Market Open: Wall Street Expectations

• Analysts expect Zepbound to generate $4.04 billion in sales and Mounjaro to bring in $7.26 billion, reflecting the company's dominant position in the GLP-1 market
• Foundayo, Lilly's newly approved GLP-1 pill for obesity, launched in Q2 and won't appear in this earnings report, but early prescription data suggest a 'modest' initial rollout compared to rival Novo Nordisk's Wegovy pill
• Lilly CEO expects global GLP-1 patient numbers to grow from 20 million at end of 2025 to 30 million by end of 2026, though the company faces pricing pressure from a Trump drug deal and lower cash-pay prices

Eli Lilly Q1 Earnings Summary

Key Expectations:

Eli Lilly will report first-quarter earnings on Thursday before market open, with Wall Street forecasting revenue of $17.62 billion. Earnings per share estimates were mentioned but not specified in the article.

Primary Revenue Drivers:

The company's blockbuster GLP-1 drugs continue fueling growth:

• Zepbound (obesity treatment): Expected sales of $4.04 billion total, with $3.98 billion from U.S. markets
• Mounjaro (diabetes treatment): Projected worldwide sales of $7.26 billion, including $3.87 billion from the U.S.

These medications have helped Lilly maintain majority market share in the obesity treatment sector.

Product Launch:

Lilly's newly approved GLP-1 obesity pill, Foundayo, launched in Q2 and won't appear in Thursday's results. However, it will likely dominate earnings call discussions. Early prescription data indicates a "modest" initial rollout, according to Leerink Partners. The pill faces competition from Novo Nordisk's Wegovy pill, which launched three months earlier.

Market Outlook:

CEO Dave Ricks projects significant market expansion, estimating global GLP-1 patient numbers will grow from approximately 20 million (end of 2025) to 30 million by end of 2026.

Headwinds:

The company anticipates pricing pressures from:

• Drug pricing agreement with President Trump's administration
• Lower cash-pay prices for Zepbound
• General pricing pressures

Offsetting Factors:

• Upcoming Medicare coverage for obesity drugs later in 2026
• Continued strong worldwide demand for Mounjaro and Zepbound
• Management expects lower prices will accelerate prescription volumes

This earnings report represents one of the healthcare sector's most closely watched quarterly results.