Eli Lilly (LLY) Surge on Strong 2026 Outlook; Novo Nordisk (NVO) Plummets on Weaker Guidance

Eli Lilly (LLY) jumped as much as 10% in midday trading on February 4, 2026, after releasing a strong 2026 sales outlook. The company expects revenue to grow 20%–25% year-over-year, reaching $80B–$83B, versus $65.2B in 2025. Q4 revenue was $19.29B, and adjusted EPS was $7.54, both exceeding estimates. The outperformance pressured Novo Nordisk (NVO), which fell as much as 6% in afternoon trade on February 4. Novo expects 2026 sales to decline 5%–13% and operating profit growth to fall by the same margin, downgrading from a 10% Q4 sales increase. The Danish drugmaker cited intensifying GLP-1 competition, patent expirations, and reduced Medicaid coverage as reasons for its softer guidance, while highlighting growth in its rare disease unit and an oral Wegovy获批 in late 2025.