LH Securities has issued a positive research report on Eli Lilly, the largest US pharmaceutical company and a global leader in diabetes and obesity treatments. The firm covers “LLY80”, the Thai DR tracking Eli Lilly, highlighting the company’s dominant position in a high-value, fast-growing market.
The company closed 4Q25 with revenue of $19.3 billion (+43% YoY), leading to a full-year 2025 revenue of $65.2 billion (+44% YoY), net profit of $21.8 billion (+85% YoY), and earnings per share (EPS) of $24.21, driven primarily by skyrocketing demand for its weight-loss drugs Mounjaro and Zepbound. The incretin drug market in the US grew by 33% YoY in prescription volume, as awareness and patient advocacy further fueled demand.
Looking forward to 2026, LH Securities forecasts continued strength, projecting net profit of $31 billion (+43% YoY) and EPS of $34.56 (+43% YoY), with revenue estimated at $81.9 billion (+26% YoY). Eli Lilly is expected to maintain its sizable 60% share in the diabetes market over key rival Novo Nordisk, which holds 40%. The rapid rise of GLP-1 therapies, including oral Wegovy, further underscores the expanding weight-loss drug market — indirectly benefiting Eli Lilly due to the overall sector’s growth.
With dozens of products in development and steady demand for diabetes and obesity medications regardless of economic conditions, LH Securities views Eli Lilly as a resilient choice for investors seeking strong growth in an uncertain environment.
Consensus recommends a “Buy” with a target price of $1,224.62 per share, offering 33.4% upside, according to Bloomberg. As for LLY80 issued by KTB in the Thai stock market, the house eyes target price at THB1.98 per share, reflecting a 31% upside. Although shares have faced minor pressure amid guidance from Novo Nordisk (forecasting a 5% sales decline in 2026 due to US price pressures), LH Securities sees the dip as a technical correction following a long uptrend. Eli Lilly’s robust business fundamentals and market-leading pipeline, especially in weight-loss and diabetes drugs, remain intact. The current FY2026 P/E stands at 38x.
