AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Eli Lilly's Q2 revenue surged 48% YoY to $23.0B, driven by Mounjaro and Zepbound incretin medicines which accounted for 65% of H1 2026 revenue, with net income up 25% despite $2.8B in acquired IPR&D charges.
Biggest Revenue Drivers
Cardiometabolic Health$18.4B+61% YoY
Strong demand for Mounjaro and Zepbound, partially offset by lower realized prices due to pricing agreements and Mounjaro's addition to China's NRDL.
Oncology$2.6B+6% YoY
Verzenio growth moderated; Other oncology products increased volume.
Biggest Revenue Drivers
Total revenue: $23.0B+48% YoY
Cardiometabolic Health$18.4B+61% YoY
Strong demand for Mounjaro and Zepbound, partially offset by lower realized prices due to pricing agreements and Mounjaro's addition to China's NRDL.
Oncology$2.6B+6% YoY
Verzenio growth moderated; Other oncology products increased volume.
Immunology$1.4B+13% YoY
Taltz and Other immunology products grew modestly.
Neuroscience and Other$0.6B
Includes neuroscience portfolio and other product lines.
Largest Expense Items
Marketing, selling, and administrative$3.4B+25% YoY
Increased promotional efforts supporting ongoing and planned product launches.
Research and development$3.8B+14% YoY
Continued investments in early and late-stage portfolio development.
Cost of sales$3.3B+34% YoY
Gross margin improved to 85.8% despite volume-driven COGS increase due to better production efficiency.
Margins: Gross margin as a percentage of revenue expanded 150 basis points to 85.8%, driven by improved cost of production and favorable product mix, partially offset by lower realized prices from pricing negotiations and international market pressures.
Watch Items from the Filing
Three acquisitions (Centessa, Kelonia, Ventyx) and subsequent July 2026 acquisitions totaled ~$13.3B YTD with contingent milestones up to $5.3B; pending AtaiBeckley acquisition adds ~$2.8B exposure.
Medicare GLP-1 Bridge program and Medicaid access launched July 2026 with unknown uptake; IRA price controls effective 2028 for Trulicity and Verzenio; pricing reforms may reduce future revenue.
Generic ANDA filings received for Verzenio (Cipla, June 2026) and tirzepatide products (multiple companies, July 2026) before patent expiration; patent infringement litigation filed June-July 2026.
Total debt increased $12.4B to $54.9B (May 2026 issuance of $9.0B) to fund acquisitions and commercial paper repayment; capital expenditures expected to be meaningfully higher near-term for manufacturing expansion.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
128 transactions in LLY reported by 32 members of Congress under the STOCK Act, most recent trade Jul 1, 2026. Reported transactions, not recommendations.
About ELI LILLY & Co (LLY): stock profile, AI score and financials
ELI LILLY & Co (LLY) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores LLY at 85.6/100 on a composite quality score built from its SEC filings, placing it at rank #4 of 2,925 stocks — the top 1% of the AI-ranked universe. LLY scores in the top quartile across revenue scale (98.0), balance sheet strength (96.8), profitability (94.2). Based on the latest XBRL financial filings (Q2 2026), ELI LILLY & Co reports quarterly revenue of $23.0B, net income of $7.1B, an operating margin of 40.3%. Top institutional holders of LLY by reported 13-F value include LILLY ENDOWMENT, BlackRock, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. LLY trades on the NYSE exchange and files with the SEC under CIK 59478. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LLY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ELI LILLY & Co directly from SEC EDGAR.