Eli Lilly reported 38% revenue growth and 61% non-GAAP EPS growth in Q2, surpassing expectations. The company raised 2025 revenue guidance to $60-$62 billion and non-GAAP EPS to $21.75-$23.00. However, shares fell 15% due to weak orforglipron obesity data compared to Novo Nordisk’s oral semaglutide.

Orforglipron showed 11.5% placebo-adjusted weight loss in Attain-1, raising some concerns. Despite this, Morningstar maintains a $650 fair value estimate for Eli Lilly, citing positive tirzepatide sales and potential for orforglipron sales. The company’s strong profile and cardiovascular outcomes support future growth.

Read more at Morningstar: Weak Orforglipron Obesity Data Weighs Down a Strong Quarter