Beyond GLP-1: Eli Lilly's Expanding Drug Portfolio Lifts Sales

Eli Lilly and Company’s LLY stock crossed the $1000 per share mark for the first time on Nov. 12, reaching new highs. It is also fast nearing the $1 trillion market cap benchmark. The key driver of Lilly’s tremendous stock price performance in the past two to three years has been the success of its popular GLP-1 drugs, Mounjaro for type II diabetes and Zepbound for obesity.

However, Lilly has gained approvals for other new drugs within the same time frame. These include Omvoh for treating ulcerative colitis and Crohn’s disease, BTK inhibitor Jaypirca for mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL), Ebglyss for moderate-to-severe atopic dermatitis and Kisunla (donanemab) for early symptomatic Alzheimer’s disease. These newly approved drugs are also contributing to Lilly’s revenue growth.

While Omvoh contributed $176.9 million to total revenues in the nine months of 2025, Ebglyss, Kisunla and Jaypirca contributed $274.1 million, $140.6 million, and $358.2 million, respectively.

Meanwhile, these drugs are also being evaluated for additional indications/label expansions. Ebglyss is being studied in phase III for perennial allergens and chronic rhinosinusitis with nasal polyps (CRSwNP). Jaypirca (pirtobrutinib) is also being studied in earlier lines of therapy to enable broader use for the approved indications of CLL and MCL.

Approvals of these new drugs in additional geographies and in earlier lines of therapy or for new indications can drive their sales higher.

A key recent new drug approval was Inluriyo/imlunestrant for treating ER+HER2-metastic breast cancer in the United States in September 2025, while it is under review in the EU.  Kisunla was approved in Europe in September. Lilly expects launches to begin in the fourth quarter and continue throughout 2026.

In addition to Mounjaro and Zepbound, Lilly expects its new drugs, Omvoh, Ebglyss, Kisunla and Jaypirca, to continue to drive its top line in 2026.

To boost long-term growth and diversify beyond GLP-1 drugs, Lilly is seeking M&A deals in the cardiovascular, oncology and neuroscience areas to expand its pipeline. In 2025, it announced several M&A deals, which can add some potential long-term growth drivers to its pipeline. It acquired Verve Therapeutics to add gene therapies for heart disease. Lilly has also entered into agreements to acquire Scorpion Therapeutics’ oncology drug and SiteOne Therapeutics’ non-opioid pain candidate.

Last week, Lilly announced a definitive agreement to acquire Adverum Biotechnologies ADVM, which will add the latter’s lead candidate, Ixo-vec, an intravitreal single-administration gene therapy being developed in phase III to treat vision loss associated with wet age-related macular degeneration. Ixo-vec has the potential to transform chronic eye care into a one-time treatment.

As Eli Lilly broadens its portfolio beyond GLP-1 blockbusters, newly approved therapies and an active M&A strategy are steadily strengthening its revenue base and long-term pipeline. With multiple drugs advancing toward wider indications and new geographic launches on deck, Lilly is positioning itself for continued growth well into 2026 and beyond.

Competition for LLY’s Omvoh, Jaypirca & Others

Omvoh, an IL-23 inhibitor, faces steep competition from AbbVie’s ABBV Humira, Skyrizi and Rinvoq as well as J&J’s JNJ Stelara. While AbbVie’s Humira and J&J’s Stelara have lost exclusivity in the United States, Skyrizi, also an IL-23 inhibitor, and Rinvoq, a JAK inhibitor, are doing extremely well and driving AbbVie’s top-line growth.

Kisunla’s single biggest competitor is Eisai/Biogen’s Leqembi, both being amyloid-targeting treatments.

Jaypirca faces competition from older BTK inhibitors like AbbVie/J&J’s Imbruvica and AstraZeneca’s Calquence. A key competing drug to Ebglyss is the popular biologic for moderate-to-severe atopic dermatitis (eczema), Sanofi/Regeneron’s Dupixent.

LLY’s Stock Price, Valuation and Estimates

Lilly’s stock has risen 35.8% so far this year compared with the industry’s increase of 14.4%.

From a valuation standpoint, Lilly’s stock is expensive. Going by the price/earnings ratio, LLY’s shares currently trade at 33.83 forward earnings, much higher than 16.84 for the industry. However, LLY’s stock is trading below its 5-year mean of 34.54.

The Zacks Consensus Estimate for 2025 has risen from $22.94 per share to $23.78 over the past 30 days, while that for 2026 has risen from $30.79 to $32.06 per share.

LLY’s Zacks Rank

Lilly has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research