Eli Lilly (NYSE:LLY) reported blockbuster Q1 results driven by Mounjaro/Zepbound and raised FY guidance, while expanding deals—buying AtaiBeckley and winning PBM support for Foundayo—amid mixed forecasts, revived patent litigation and takeover chatter around oncology assets.

Previous Week Recap

  • Lilly Q1 Revenue Jump, Mounjaro +Zepbound: Eli Lilly (LLY) Q1 revenue $19.8B (+56% YoY); Mounjaro+Zepbound sales $12.8B, Mounjaro +125% YoY. Non-GAAP EPS $8.55 (+156%). FY revenue guidance raised by $2B to up to $85B.
  • Lilly to Buy AtaiBeckley, $3.8B: Eli Lilly agreed to buy AtaiBeckley for ~$2.8B cash plus up to $1B in contingent payments (~$3.8B total). Deal closes Q3 2026 pending approvals; adds Phase 3 intranasal 5‑MeO‑DMT for TRD.
  • Lilly Buy Triggers ATAI Moves: Eli Lilly (LLY) bought ATAI Life Sciences, triggering pre-market moves in ATAI and related stocks. Traders saw volume spikes and price swings tied to the acquisition news.
  • Foundayo Added To CVS PBMs: Eli Lilly’s GLP-1 weight-loss drug Foundayo was added to CVS Caremark’s preferred list and gained coverage from the three largest PBMs by early June; plan-level access may still vary.
  • Deutsche Bank Cuts Foundayo Forecast: Deutsche Bank cut 2026 Foundayo sales forecast for Eli Lilly (LLY) to $1.3B from ~$3B. Eli Lilly says prescriptions may rise with familiarity; coming months will show if sales gap narrows.
  • Teva Suit Revived, Exclusivity Review: 7th Circuit revived Teva suit claiming Eli Lilly breached a 2018 settlement over generic Forteo timing; court sent case back to Indiana to resolve when exclusivity ended and launch delay.
  • UBS: Limited Indian GLP-1 Risk: UBS says Eli Lilly (LLY) likely faces limited risk from Indian generic GLP‑1 entrants to U.S./EU by 2031, citing supplier limits and shift toward next‑gen GLP‑1s.
  • Investors Eye Sellas Bid Rumors: Investors cited Eli Lilly (LLY) as a potential bidder for Sellas’ GPS and SLS009 amid takeover chatter tied to Sellas’ AML program and upcoming Regal Phase 3 readout; no formal bid reported.

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