| Third-quarter results
Eli Lilly: results, deals and market reaction
Revenue of $24,397 million, up 39%. Mounjaro and Zepbound together were about two thirds of it. 2026 revenue outlook raised to $91 to 92 billion.
Business and markets: earnings, deals and market reaction in obesity medicine
The money side of the weight-loss medicine market: what the big companies report, how their medicines sell, who is buying whom, and what share prices did on the days that mattered. Every figure carries its date and a link to its source.
Last checked . Company figures are company-reported. This section records what happened. It does not predict prices or tell anyone what to buy or sell.
$24.4BLilly third-quarter revenue, up 39% (October 29)
$91 to 92BLilly 2026 revenue outlook, raised from $85 to 87B
DKK 79.2BNovo adjusted sales, up 4% at constant rates (November 4)
-2% to +2%Novo 2026 outlook for adjusted sales, raised from -6% to 0%
Company-reported figures from each company's third-quarter release. Lilly reports in US dollars and Novo in Danish kroner, so the tiles are not converted into one currency.
Company pages
| Third-quarter results
Novo Nordisk: results, sales by product and market reaction
Adjusted sales of DKK 79,195 million, Wegovy pill sales of DKK 5,394 million, outlook raised, and DKK 8.7 billion of impairments.
Medicines, trials and approvals are on the Eli Lilly tracker and the Novo Nordisk tracker. Listed prices for patients are in the GLP-1 cash price ledger.
The two leaders side by side, third quarter 2026
The companies report in different currencies and measure different things, so the Atlas does not convert one into the other. Each row is as the company reported it.
| Eli Lilly (October 29) | Novo Nordisk (November 4) | |
|---|---|---|
| Total sales in the quarter | $24,397 million, up 39% | DKK 79,195 million adjusted, up 4% at constant rates |
| Growth versus a year earlier | Total up 39%. Mounjaro plus Zepbound up 59% (Atlas arithmetic from the two reported lines) | Total up 4% at constant rates. Obesity care up 22%, diabetes care down 5% |
| Weekly injections for diabetes and weight | Mounjaro $10,723 million, Zepbound $5,352 million | Ozempic DKK 29,706 million, Wegovy DKK 20,407 million |
| Newer pill | Foundayo $184 million, first quarter on sale | Wegovy pill DKK 5,394 million, up from DKK 3,218 million |
| 2026 outlook | Revenue $91 to 92 billion, raised from $85 to 87 billion | Adjusted sales and operating profit -2% to +2%, raised from -6% to 0% |
Two numbers worth seeing
Both charts use figures from the company pages, and one bar is calculated and marked as such. Bars start at zero and are drawn to scale within each chart.
Lilly: Mounjaro plus Zepbound, US$ million
Novo Nordisk: Wegovy pill, DKK million
Market reaction log
A move appears here only when a named source reported it. The table says whether the figure is intraday or a close, and shows how the wider market did that day, because a share price can move with the market and not with the company’s news. The Atlas has not found a confirmed closing figure for either of the two latest results days.
On November 5, 2026, U.S. stocks fell sharply (Fox Business reports the Dow down 3.4% at the close), so share moves that day reflect the wider market as well as any company news. The Atlas has not recorded a Lilly or Novo Nordisk move for that day.
| Date | Company and event | Reported move | Market that day | Source |
|---|---|---|---|---|
| November 4, 2026 | Novo Nordisk, third-quarter report | Up as much as 6% early in Copenhagen, about 3.4% higher later (intraday); 5.5% for the day in a later Ritzau report | C25 index closed up 1.82% | The Private Banker; Ritzau |
| October 29, 2026 | Eli Lilly, third-quarter results | About 4% higher before the open (intraday); about 11% higher over the week to October 31 | S&P 500 down 0.3%, Nasdaq down 1.4% at the close | Zacks; TIKR; Associated Press |
| February 4, 2026 | Eli Lilly outlook; Novo Nordisk outlook a day earlier | Lilly up as much as 10%, Novo down as much as 6% (intraday) | S&P 500 down 0.5%, Nasdaq down 1.5% at the close | Yahoo Finance; Associated Press |
Live quotes are not hosted here. Use each company's investor site or a brokerage.
Deals and acquisitions in obesity medicine
Headline values are the maximum a deal could be worth if every milestone is met. They are not the amount paid up front.
| Date | Deal | Terms as reported | Source |
|---|---|---|---|
| November 13, 2025 | Pfizer completes its acquisition of Metsera, which makes the monthly GLP-1 MET-097i and the amylin medicine MET-233i | $65.60 per share in cash, about $7.0 billion enterprise value, plus contingent payments of up to $20.65 per share tied to three milestones | Pfizer release, company-reported |
| March 2025 | Roche takes rights to Zealand Pharma's petrelintide, an amylin medicine | Potentially up to $5.3 billion | Reuters factbox, November 10, 2025 |
| 2023 | Roche acquires Carmot Therapeutics | $2.7 billion | Reuters factbox, November 10, 2025 |
| Reported by Reuters in November 2025 | Novo Nordisk licenses a triple-agonist from The United Laboratories of China; AstraZeneca licenses AZD5004 from Eccogene; Merck licenses HS-10535 from Hansoh Pharma | Each up to $2 billion | Reuters factbox, November 10, 2025 |
The Atlas has traced the Pfizer figures to Pfizer's own release. The other rows come from one Reuters summary and will be checked against company releases. Lilly's 2026 acquisitions are on the Eli Lilly results page.
What this section does and does not do
- It reports results, deals and price moves that a named source published, with the date.
- It does not give price targets, predictions or buy, sell and hold views.
- It does not host live prices. It links to each company's own investor site.
- Company figures are company statements, not independent data. Moves reported by the press are labeled intraday or close.
- It is updated when something happens, such as an earnings release or a deal, and checked on weekdays.
The Atlas news page covers approvals, availability, regulation and published trial findings. Business items live here.
Questions
Does the Atlas show live stock prices?
No. It records reported moves on the days that matter, with a source, and links to each company's investor site for live quotes.
Why are Novo Nordisk's figures in kroner?
Novo Nordisk reports in Danish kroner (DKK). The Atlas keeps each company's currency and does not convert, because exchange rates move and a converted number would not match the report.
Is this investment advice?
No. It is a record of what companies reported and what the press said happened. It does not say what any share is worth.
Sources
- Eli Lilly and Company, third-quarter 2026 results release, October 29, 2026.
- Novo Nordisk A/S, third-quarter announcement, November 4, 2026.
- Pfizer Inc., Pfizer completes acquisition of Metsera, November 13, 2025.
- Reuters, weight-loss drug developers factbox, November 10, 2025, copy on Stockopedia.
- Novo Nordisk U.S., Wegovy pill is now available, January 5, 2026 (states the FDA approval date of December 22, 2025).
- Zacks, TIKR, The Private Banker, Yahoo Finance, Fox Business, Ritzau and Associated Press reports of share moves and index closes, listed on the company pages.