Eli Lilly increased its full-year revenue forecast by $5 billion and surpassed third-quarter profit estimates, driven by strong demand for its injectable weight-loss medications. The Indianapolis-based pharmaceutical company now expects 2026 revenue to range between $91 billion and $92 billion, reflecting its expanding position in the growing GLP-1 market. This forecast highlights Eli Lilly’s growing advantage over Danish competitor Novo Nordisk and has contributed to the company reaching a market valuation of approximately $1.2 trillion.

Following the earnings announcement, Eli Lilly shares rose more than 6% in afternoon trading, reaching $1,369.79, after briefly hitting an all-time high of $1,408.

A significant factor in the company’s growth is the pilot weight-loss program launched in July in partnership with the U.S. government’s Medicare program. The initiative targets individuals aged 65 and older, as well as those with disabilities, offering access to the drugs at a monthly cost of $50. Since its inception, the program has attracted over 500,000 new customers to Eli Lilly’s products. This pilot program also includes weight-loss drugs produced by Novo Nordisk.