Eli Lilly reported a 48% increase in Q2 2026 revenue and raised its full-year guidance. Its weight-loss drugs, Mounjaro and Zepbound, generated a combined $14.9 billion in sales in Q2, capturing approximately 60% of the prescription share in the U.S. obesity drug market. Additionally, Eli Lilly plans to submit a Biologics License Application (BLA) in the U.S. for its triple-agonist GLP-1 drug, Retatrutide, in Q1 2027. The drug met its primary endpoints in Phase 3 clinical trials, demonstrating weight loss effects comparable to bariatric surgery.

In contrast, Novo Nordisk's Q2 adjusted sales grew by 7% at constant exchange rates, but its adjusted gross margin decreased from 82.7% in the same period last year to 78.2%. The company also laid off nearly 12,000 employees and recorded a DKK 6.3 billion non-cash impairment. Despite its oral weight-loss drug Wegovy achieving over 5 million prescriptions and capturing approximately 90% of the oral obesity market share, the overall business faces challenges.