#Q1 2026

19 stories

The Q1 2026 earnings cycle reset the GLP-1 commercial picture. Eli Lilly's April 30 print delivered $19.8 billion in revenue (+56% YoY) on Mounjaro at $8.66B (+125%) and Zepbound at $4.16B (+80%), with full-year guidance raised to $82–85 billion. Pfizer beat consensus with $14.45B revenue on April 29 and reaffirmed 2026 guidance plus 20+ obesity trials including 10 Phase 3 of PF'3944. Roche's April 23 call confirmed ENITH 1 and ENITH 2 Phase 3 enicepatide trials initiated and projected $9B obesity peak sales. Boehringer-Zealand reported the survodutide SYNCHRONIZE-1 Phase 3 topline (16.6% weight loss at 76 weeks) on April 28.

The Q1 cycle culminates with Novo Nordisk reporting May 6 and Hims & Hers reporting May 11. Investors are watching Novo's Wegovy pill 721,000 Q1 prescription momentum against the February guidance of a 5–13% sales/operating-profit decline at constant exchange rates, and Hims's testosterone-and-peptide pivot heading into the July PCAC meeting.

Stories here cover earnings beats, pipeline disclosures, and the analyst reactions that follow them. See #eli-lilly, #novo-nordisk, and #roche.

Industry April 24, 2026 · View digest

Roche Q1 2026 Earnings: Executives Project $9B Peak Sales for Obesity Pipeline, Petrelintide + Enicepatide Data Coming to ADA 2026

Roche reported Q1 2026 sales up 6% at constant exchange rates and used the earnings call to re-anchor its obesity strategy. Executives project $9 billion in peak annual sales from the emerging breast cancer pill plus four obesity candidates. Lead asset petrelintide (licensed from Zealand Pharma, ZUPREME-1 Phase 2 showed up to 10.7% weight loss with placebo-like tolerability) is positioned at a differentiated patient segment. CEO Schinecker said Roche is not investing in the first generation of obesity drugs, but the next — with petrelintide and CT-388 (enicepatide) data headed for ADA 2026.