LLY
Eli Lilly and Company
Pharma leader; obesity/diabetes (tirzepatide franchise), oncology, immunology, neuroscience pipeline.
$829.25
-6.77 (-0.81%) session
Demo quote — not a live market feed
Market cap
$770B
P/E
58.0
Div yield
0.65%
Volume
33M
Price history
+16.27% over 1Y
Illustrative demo series
At a glance
Primary R&D focus
Horizon score
Strong forward setup
Rare combination of explosive commercial product + credible pipeline extension; concentration risk is the shadow.
Forward brief
What matters next — not a recap of last quarter
Lilly’s future is next-gen obesity (especially orals) and capacity — not last quarter’s Mounjaro beat (expected). R&D is correctly concentrated on extending the franchise while diversifying into neuro/oncology. Next earnings: sales run-rate + manufacturing color; pipeline timing on orals is the multi-year re-rating lever.
Next earnings
Q3 2026 · Oct 30, 2026
Expected EPS
$6.85
Expected revenue
$14.8B
Report date
Oct 30, 2026
Incretin supply, demand, and next-gen oral obesity progress dominate.
What to watch on the call
- Mounjaro / Zepbound sales and capacity updates
- Oral incretin / next-gen obesity pipeline timelines
- Gross margin and manufacturing scale costs
- Pipeline readouts outside metabolic
Questions that actually matter
- How long can tirzepatide franchise outrun competition (Novo, orals, combos)?
- Is manufacturing capacity still the bottleneck or is demand saturation visible?
R&D deep dive
Not just “they invest in R&D” — in what, for when, and is it core?
Annual R&D / tech spend
~$10B+
Spend trend
Rising
% of revenue
~25%+
R&D is heavily weighted to defending and extending the metabolic franchise (core, near-term) while seeding neuroscience and oncology for the post-incretin decade. Extremely relevant to the current commercial engine.
Incretin / obesity next-gen (orals, combos, amylin)
Pipeline to extend leadership beyond injectable tirzepatide into oral and multi-agonist regimens.
Strategic bet: Own the obesity category for a decade, not a product cycle.
Alzheimer’s / neuroscience
Disease-modifying candidates and diagnostics-adjacent programs.
Strategic bet: Diversify beyond metabolic concentration risk.
Oncology & immunology
Targeted therapies and antibodies that balance the portfolio.
Strategic bet: Classic pharma diversification with optionality.
Strategic bets
Where management is placing multi-year chips
Obesity franchise multi-product platform
Stack orals and combos so competitors never catch a single-product Lilly.
Horizon · 3–7 years
Upcoming catalysts
Oct 30, 2026
Q3 earnings
Incretin sales + capacity
Oral obesity trial readouts
Long-duration franchise re-rating
Forward risks
Franchise concentration
Valuation assumes obesity leadership persists; competitive orals could reprice the stock.
Pricing / policy
Political pressure on GLP-1 pricing and coverage.