Eli Lilly posts $23 B Q2 revenue, beats forecasts as Foundayo lags behind Novo's oral GLP-1

Eli Lilly reported second‑quarter revenue of $23 billion, a 48% increase from the prior year and well above analysts' expectations. The strong top‑line helped the company deliver a sizable earnings beat for the quarter.

The results lifted Lilly's share price nearly 5% in pre‑market trading, bringing the stock to about $1,170 per share. At the end of July the company's market capitalization stood at roughly $1.02 trillion.

While the overall performance was robust, the company's oral GLP‑1 drug Foundayo fell short of expectations. Foundayo's first‑week patient count was about 1,390, compared with more than 3,000 patients for Novo Nordisk's oral Wegovy in its debut week.

Analysts noted that the lower uptake reflects patients' preference for efficacy over convenience, and that the shorter data collection period for Foundayo may make direct comparisons with Wegovy misleading.