Lilly Raises 2026 Sales Forecast as Q1 Revenue Soars 56% to $19.8B
LLY•Eli Lilly raised its 2026 sales forecast after Q1 revenue jumped 56% to $19.8B, driven by Mounjaro and Zepbound volume growth, while manufacturing bottlenecks eased for global launches. The company is weighing a US MFN pricing proposal, faces a 25% Japan price cut and plans a $20B Kobe plant expansion.
1. Q1 Financial Performance
Lilly’s first-quarter revenue surged 56% to $19.8 billion, propelled by strong volume growth for obesity treatments Mounjaro and Zepbound, prompting the company to raise its 2026 sales forecast.
2. US MFN Pricing Proposal
The company is evaluating a US Most-Favored-Nation policy that would tie domestic drug prices to those in other developed markets and could save the US $529 billion over a decade, potentially influencing Lilly’s global launch strategies.
3. Japan Repricing and Investment
In Japan, Mounjaro underwent a roughly 25% price cut under the Huge Seller Repricing framework, prompting Lilly to commit $20 billion to expand its Kobe manufacturing plant between 2026 and 2028.
4. Obesity Treatments and Manufacturing
Competition with Novo Nordisk’s Wegovy is expanding the GLP-1 market, manufacturing bottlenecks have largely eased, and Lilly’s oral obesity pill Foundayo now generates over 80% of its revenue from new patients.






