11:00 AM EDT, 10/31/2025 (MT Newswires) -- Eli Lilly ( LLY ) delivered another solid quarter, citing strong international demand for type 2 diabetes drug Mounjaro, while the upcoming launch of oral GLP-1 medication Orforglipron next year is expected to be a key driver, Morgan Stanley said in a note emailed Friday.

The brokerage raised its 2025 revenue guidance to a range of $63 billion to $63.5 billion from $60 billion to $62 billion, and earnings per share outlook to a range of $23 to $23.70 from $21.75 to $23, after Q3 sales of Mounjaro and Zepbound at $10.2 billion exceeded Morgan Stanley's forecast of $9.4 billion and Street consensus of $8.6 billion. Analysts surveyed by FactSet expect $62.55 billion in revenue and $22.97 in EPS for 2025.

Morgan Stanley said Mounjaro's strong international performance, driven by about 75% of obesity sales being paid out of pocket, underscores solid global demand.

According to the report, the 2026 Orforglipron launch is seen as a major growth driver, with projected sales of $340 million in 2026 and $1.5 billion in 2027, and the success probability was raised to 90%.

Morgan Stanley maintained an overweight rating on the stock and raised its price target to $1,069 from $1,023.

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