On October 30, Eli Lilly and Company released its Q3 2025 results, with revenue reaching USD 17.6 billion in the 3-month period, a year-on-year (YoY) increase of 54%. Combined with the results of the first two quarters, Lilly's total revenue for the first 9 months of the year was USD 45.9 billion (up 46%). Eight Big Pharma companies have released their Q3 results, with Lilly currently ranking fourth in total revenue and first in pharmaceutical sales, showing significant changes compared to the half-year report.

From a regional distribution perspective, between Q1 and Q3 2025, revenue from the US market was USD 30.6 billion (+43%), the European market contributed USD 8.5 billion (+89%), Japan USD 1.5 billion (+18%), China USD 1.5 billion (+20%), and other markets USD 3.9 billion (+21%).

Broken down by therapeutic area, Lilly's four major segments — Cardiometabolic Health, Oncology, Immunology, and Neuroscience — generated revenues of USD 33.8 billion, USD 6.8 billion, USD 3.7 billion, and USD 932 million respectively.

Incretin-based drug tirzepatide (Mounjaro and Zepbound) and abemaciclib Verzenio® (abemaciclib) HCP were the main drivers of Lilly's pharmaceutical sales growth, generating USD 24.8 billion (+125%) and USD 4.1 billion (+10%) respectively over the first three quarters. It is worth mentioning that the gap in prescription share between Lilly's and Novo Nordisk's GLP-1 products in the US market further widened in Q3 (57.9% vs 41.7%).

In terms of R&D progress, Lilly achieved several key milestones in the GLP-1 field in the first 9 months, such as the successful completion of six Phase III studies for the small molecule GLP-1R agonist orforglipron (three of which were completed in Q3), while the Phase III study of tirzepatide (Mounjaro) for paediatric and adolescent type 2 diabetes (T2D) met its primary endpoint. The company anticipates further progress in this field in the final quarter, with orforglipron poised for regulatory submission, and GLP-1R/GIPR/GCGR triple agonist retatrutide expected to complete its first late -stage study (for knee osteoarthritis pain). Additionally, Lilly discontinued two programs in Q3, including a Phase II study of a P2X7 inhibitor for pain and a Phase III study of abemaciclib for sequenced metastatic breast cancer.

For the full-year 2025 performance outlook, Eli Lilly has once again raised its annual revenue expectation from between USD 60 and 62 billion to between USD 63 and 63.5 billion.