Eli Lilly reported third-quarter revenue up 39% to more than $24 billion, driven mainly by its weight loss portfolio. Mounjaro sales rose 65% to over $10 billion and Zepbound climbed 49% to $5.3 billion, while 40% of new patients starting an oral obesity medicine chose Foundayo. Lilly holds 63% of the U.S. market, and the stock is trading at a record high above $1,300, at 42x forward earnings estimates versus more than 70x in 2024. The article argues the weight loss market still has room to expand, since only 3% to 10% of potential U.S. patients access weight loss care, and that late-stage candidates such as retatrutide add to the growth outlook.
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