Eli Lilly and Company Q1 FY2026 earnings call

Prepared Remarks covered various drug developments: ACHIEVE-4 results for G4 added to type 2 diabetes clinical profile, plan to complete U.S. submission in late Q2; Transcend P2D1 results for retatrutide showed profound A1C improvement and weight loss, next trial TRIUMPH-1 to read out this quarter; initiated Phase III programs for aloralintide in multiple indications; acquired Ventix Biosciences and licensed clasichizumab; EBLIS had durable disease control in ADLONG study and positive results in atopic dermatitis trial; TOGETHER-PSO had positive results in psoriasis and obesity; announced acquisition of Orna Therapeutics; positive top-line results from Hercabrutinib trial in CLL; initiated Phase III program for brenepatide in major depressive disorder and other neuroscience trials; acquired Colonia Therapeutics and Ajax Therapeutics; announced acquisition of Sintesa Pongsu. Dave's closing remarks mentioned progress in the quarter with revenue and earnings growth, multiple positive phase three trials, acquisitions, and new phase three programs. Mike opened Q&A session.

Q: Jeff Meacham from Citi asked about margins under price scenarios for Lilly, Dave responded about volume expansion, pricing dynamics in different markets.

Q: Chris Schott from J.P. Morgan asked about international Monjaro and impact of generic SEMO, Patrick responded about strong growth of Monjaro, market share, and generic's impact on market growth.

Q: Seamus Fernandez from Guggenheim asked about market segmentation with potential assets, Ken responded about different opportunities for tailoring medicines.

Q: Alex Hammond from Wolf Research asked about Medicare access strategy and persistence, Ilya responded about Medicare access starting in July, affordability, and persistency.

Q: Evan Siegerman from BMO Capital asked about next levers of growth, Dan responded about growth in other franchises and business development.

Q: Asad Haider from Goldman Sachs asked about Fundayo launch curve and guidance contribution, Ilya and Lucas responded about early launch metrics and guidance.

Q: James Shin from Deutsche Bank asked about Bridge balance and Medicare access revisions, Dave responded about Bridge extension and future government actions.

Q: Mohit Pansal from Wells Fargo asked about Employer Connect program, Ilya responded about employer connect platform and future impact.

Q: Terrence Flynn from Morgan Stanley asked about DTC channel leverage, Dave, Ilya, and Patrick responded about DTC channel evolution and consumer activation.

Q: Umair Rafat from Evercore asked about Zeb Bound's commercial dynamics and pricing delta, Lucas responded about pricing dynamics.

Q: Courtney Breen from Bernstein asked about Foundeo launch vs traditional primary care, Ilya responded about Foundeo launch elements.

Q: Dave Reisinger from Lyric asked about employer coverage vision, Dave responded about employer coverage progress and future expectations.