Lilly Q2 Mounjaro Sales Hit US$9.94B as Canada Generics Emerge

Eli Lilly reported that global sales of Mounjaro rose 91 per cent in the second quarter of 2026 to US$9.94 billion, well above analyst expectations, as both Lilly and Novo Nordisk detailed their tactical responses to generic competition in the Canadian market.

Lilly's Q2 numbers

Sales of Zepbound rose to US$4.93 billion in the quarter, and together with Mounjaro the two products accounted for 64.7 per cent of Eli Lilly's revenue in April, May and June this year. Lilly's chief financial officer Lucas Montarce told an earnings call that U.S. revenue was up 48 per cent compared to the same period last year, while revenue in the rest of the world grew 136 per cent, driven by Mounjaro primarily in Latin America and Asia.

Montarce also said that in Q2, approximately six out of 10 total prescriptions and approximately seven out of 10 injectable prescriptions were for a Lilly medicine. The company raised its full-year revenue forecast, and its shares were up 2.5 per cent on the day of the report.

Canada: Lilly flags generic supply constraints

Patrik Jonsson, president of Lilly International, said the company was "pleasantly surprised" by their performance in Canada. Jonsson added that Lilly has "also seen the generic companies actually having significant supply constraints," and said it was something the company needs to monitor very closely.

The observation is notable given that Mounjaro was authorized in Canada under the Lilly brand since 2022, and Zepbound received Health Canada authorization in May 2025. Both Lilly products remain under patent protection in Canada, so the "generic" competition Jonsson referenced applies to the semaglutide market rather than tirzepatide.

Novo Nordisk leans on savings cards

Novo Nordisk reported operating profit up 11 per cent for the quarter, with the company's oral Wegovy pill sales surpassing five million prescriptions in the U.S. since launch, though analysts described Wegovy sales as "slightly soft". CEO Mike Doustdar said on the earnings call that the company is serving almost 70 per cent more people compared to a year ago.

Emil Kongshøj Larsen, executive vice-president of international operations at Novo Nordisk, described the Canadian response directly: "While the generic players have started to capture market share, we have so far been able to grow our absolute volumes". Larsen added that in Canada, the company's leading tactic is the savings card program, and that Novo has seen good volume retention for both Ozempic and Wegovy in the cash and private insurance channels.

Doustdar also flagged growing interest in oral formats: "We segment the population into injectable versus orals. Actually, we are more and more ourselves getting surprised (by) how many people are after a pill rather than an injection, frankly speaking," he told investors. Novo Nordisk's oral semaglutide product in Canada is Rybelsus.

What Canadian shoppers see

On GLP1Prices.ca, current cash-pay pharmacy prices for Mounjaro range from $271.62 to $800 CAD across 108 listings, while Ozempic prices range from $93.29 to $663 CAD across 82 listings. Wegovy ranges from $270 to $550 CAD, and Rybelsus from $230 to $293.99 CAD. Shoppers weighing generic versus brand options can track authorized generic semaglutide filings via our generic semaglutide tracker, review coverage details through our insurance coverage checker, or consult our FAQ.

This article is for informational purposes only and does not constitute medical advice.

Sources

• GLP-1 drugs are driving higher sales for Eli Lilly and Novo ...
• Zepbound (Mounjaro/Tirzepatide) for weight management ...