Eli Lilly and Company delivered a blockbuster third quarter, posting $17.60 billion in revenuea 54 % increase year-over-year and non-GAAP earnings per share of $7.02, significantly ahead of forecasts. The strength was driven by blockbuster drugs including Mounjaro, which recorded $6.52 billion in sales, and Zepbound, which surged 185 % to $3.59 billion. With this momentum, Lilly raised its full-year revenue guidance to about $63 billion and EPS expectations accordingly.

The performance underscores how the weight-loss and diabetes therapy boom is reshaping pharma earnings power. However, despite the strong numbers, the company still faces potential challenges including pricing pressure from payers, regulatory scrutiny and competition from rivals. Investors will be watching whether Lilly can maintain the growth trajectory in an increasingly crowded space and how much pipeline innovation can offset margin risk as pricing dynamics evolve globally.