Key insights
- Morgan Stanley's commentary on Eli Lilly's Mounjaro and Zepbound prescription data suggests a positive outlook, estimating 6% upside to 2026 estimates. The firm projects $100 billion in peak sales from Lilly's injectable platform. International expansion with the Kwikpen device could further boost prescription capacity. The stock appears undervalued relative to its growth prospects, potentially driving positive sentiment in the US equity market.
Investing.com - Morgan Stanley provided commentary on Eli Lilly and Company (NYSE:LLY) following prescription data for its diabetes and weight-loss medications.
Mounjaro total prescriptions and new prescriptions for the week of April 17, 2026 were approximately 758,400 and 367,900, compared to approximately 749,500 and 361,700 the prior week, according to IQVIA data cited by Morgan Stanley. Zepbound total prescriptions and new prescriptions were approximately 615,300 and 350,600, compared to approximately 632,500 and 346,400 the prior week.
Morgan Stanley estimates approximately 6% upside to 2026 Mounjaro and Zepbound estimates. The firm estimates Eli Lilly’s current injectable platform can deliver approximately $100 billion in total sales at peak and serve the equivalent of approximately 22 million patients.The pharmaceutical giant, with a market capitalization of $821 billion, posted revenue of $65.2 billion over the last twelve months with an impressive 44.7% growth rate. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value, trading at a PEG ratio of just 0.41—suggesting attractive value relative to its growth prospects.
Eli Lilly has launched Mounjaro in certain markets outside the United States using a syringe and vial presentation and will transition to its Kwikpen device as it receives approval in each geography. Morgan Stanley estimates Kwikpen could add approximately 55 million more total prescription capacity for markets outside the United States.
Kwikpen was approved in the United Kingdom, the European Union, and recently in Spain. The device ramp has included the UK, Germany, Saudi Arabia and UAE as of second-quarter 2024 commentary, and was recently made available in Australia.For deeper insights into Eli Lilly’s financial health and growth trajectory, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.
In other recent news, Eli Lilly reported mixed performance in its GLP-1 portfolio, with Mounjaro prescriptions reaching approximately 758,400 total prescriptions and 367,900 new prescriptions for the week of April 17, 2026. This was a slight increase from the previous week’s figures of 749,500 total and 361,700 new prescriptions, according to IQVIA data cited by Morgan Stanley. Meanwhile, Zepbound prescriptions totaled 615,300 and 350,600 for total and new prescriptions, respectively, showing a decrease compared to the prior week’s numbers. Bernstein SocGen Group reiterated an Outperform rating for Eli Lilly, expressing optimism about the company’s potential to exceed first-quarter expectations and possibly raise its full-year guidance. Morgan Stanley maintained an Overweight rating, citing the importance of broadening Medicare coverage for GLP-1 medications for obesity as a growth driver. However, CVS Health’s decision to opt out of the Medicare obesity drug coverage model has raised concerns, impacting Eli Lilly and Novo Nordisk shares negatively. The decision by CVS Health to not participate in the coverage program has been noted by analysts as a significant development in the market.
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