Eli Lilly's (LLY) GLP-1 franchise for weight loss is set to drive 26% revenue growth in 2026, BofA Securities said in a Monday note.

The company expects to launch orfoglipron in Q2 2026 and could lead to a "meaningful" category expansion, the investment firm said. Orfoglipron should launch well and could generate $3 billion in revenue in the first year, BofA noted.

Meanwhile, Mounjaro is expected to remain Eli Lilly's "top selling brand for the foreseeable future," for diabetes in the US and for both obesity and diabetes outside the US, the investment firm said.

In addition, Eli Lilly's recent US government deal is expected to spur uptake of the company's obesity medications starting in Q2 2026, BofA said.

BofA lowered its price target on Eli Lilly to $1,268 from $1,286, while maintaining its buy rating.

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