Above expectations. Q2 revenue grew 48% year over year, driven mainly by strong Zepbound and Mounjaro performance, prompting the company to raise full-year guidance.

Key figures: Global revenue grew 48% to approximately $21.7B; Zepbound + Mounjaro combined $14.9B; non-GAAP EPS $8.38.

Business progress: Foundayo U.S. launch accelerated, with prescription volume nearly doubling month over month by the end of July; approvals obtained in multiple countries. Retatrutide succeeded in all three Phase 3 trials, with weight-loss efficacy approaching surgical levels. The Medicare GLP-1 Bridge program launched in July, adding coverage for 20 million seniors.

Guidance and outlook: Raised full-year revenue to $85–87B and EPS to $35.50–36.50.

Risk signals: U.S. net price down 9% year over year; generic semaglutide launched in India/Brazil but has not eroded Mounjaro share; management expresses strong confidence in oral market expansion.