The results come as Eli Lilly works to maintain its edge over Novo Nordisk in the booming market for a class of obesity and diabetes drugs called GLP-1s.

U.S. sales of Lilly’s weight-loss treatment Zepbound nearly tripled, to $3.57 billion, in the third quarter. Meanwhile, revenue from the diabetes drug Mounjaro, which has been on the market longer, has doubled, to $6.52 billion, thanks to growth outside the U.S.

Lilly tops Q3 estimates as Mounjaro and Zepbound fuel a 54% revenue surge, prompting the drugmaker to raise its full-year sales and earnings outlook.

Eli Lilly shares rise as Q3 revenue jumps 54% to $17.6 billion, earnings top estimates, and analysts lift price targets on strong obesity drug momentum.

Worth noting, CVS Caremark—the biggest PBM in the U.S.— announced in May that it would make Novo Nordisk’s rival drug Wegovy (semaglutide) the preferred obesity GLP-1 on its formulary. The move was expected to boost access to Wegovy in The States—albeit likely at the expense of that for Lilly’s Zepbound.

The site will also help make treatments for heart disease, diabetes, cancer, and autoimmune disorders areas where Lilly has seen fast growth. Construction is set to start in 2026, and Lilly expects to begin producing oral drugs by late 2028.