What was Eli Lilly's revenue in Q1 2026?

Eli Lilly's revenue was $9.3 billion in Q1 2026.

How did Pfizer perform in Q1 2026?

Pfizer reported revenue of $14.8 billion and EPS of $0.82 in Q1 2026.

What is driving Eli Lilly's growth?

Growth is driven by obesity drugs Mounjaro and Zepbound, with sales up over 40% year-over-year.

How does Pfizer plan to compete in the obesity market?

Pfizer acquired an obesity-focused company for $3 billion, signaling its intent to enter the market.

What is Eli Lilly's guidance for 2026?

Eli Lilly raised its full-year revenue guidance to $38-40 billion.

Eli Lilly vs Pfizer: Q1 2026 Earnings Show Divergent Paths

Eli Lilly (LLY) and Pfizer (PFE) reported Q1 2026 results, both beating expectations. Lilly continues to lead the obesity drug market with Mounjaro and Zepbound, while Pfizer is investing heavily to rebuild after COVID and enter the obesity race.

Eli Lilly (NYSE: LLY) and Pfizer (NYSE: PFE) reported their first-quarter 2026 earnings, both surpassing analyst estimates. However, the underlying businesses tell two different stories: Lilly is capitalizing on its leadership in the obesity drug market, while Pfizer is spending aggressively to offset declining COVID-related revenue.

Key Financial Results

Company	Revenue	Net Income	EPS
Eli Lilly	$9.3B	$2.8B	$2.58
Pfizer	$14.8B	$4.6B	$0.82

Year-over-year comparisons were not provided by the source.

Highlights from the Reports

Eli Lilly: Strong growth in obesity drug sales (Mounjaro and Zepbound) with over 40% year-over-year increase, solidifying its market leadership.
Pfizer: Sharp decline in COVID-19 vaccine and Paxlovid revenue, but announced a $3 billion acquisition of an obesity-focused company, signaling intent to compete in this space.

Guidance

Eli Lilly: Raised full-year revenue guidance to $38-40 billion, driven by robust obesity drug demand.
Pfizer: Maintained guidance at $58-60 billion, expecting continued COVID revenue decline.

Stock Reaction

Eli Lilly shares rose 2.3% in after-hours trading, while Pfizer fell 1.1%, as investors focused on acquisition costs and COVID slowdown.

What This Means for Investors

Eli Lilly holds a clear competitive edge in the growing obesity market, while Pfizer is taking proactive steps to enter via acquisitions. Investors should monitor Pfizer's progress in developing obesity treatments and its ability to challenge Lilly's dominance.