“We completed the U.S. submission of Foundayo for type 2 diabetes and expect regulatory action later this year.”

In context

“David Ricks (Chair and Chief Executive Officer): Thanks, Mike. Q2 continued Lilly's strong momentum. We delivered robust revenue growth across all key products and major geographies. We raised our full-year annual guidance. We advanced our pipeline across each of our therapeutic areas, and expanded our pipeline through business development. On Slide 5, we list key Q2 financial metrics and highlight progress related to our strategic deliverables. Revenue grew 48% compared to Q2 of 2025, and our key products increased by almost $6.8 billion. Within key products, our Oncology, Immunology, and Neuroscience medicines collectively grew 121% compared to the same quarter last year, as we continue to expand our presence across the portfolio. The number of people taking incretins grew, and Lilly's portfolio of medicines extended its leadership position. The U.S. Foundayo launch continued to build momentum. After educating physicians and securing commercial access across all three major PBMs in June, we began broad direct-to-consumer marketing to raise consumer awareness. We completed the U.S. submission of Foundayo for type 2 diabetes and expect regulatory action later this year. We launched Foundayo for obesity in the UAE, and we recently received approval in Saudi Arabia for obesity and in Mexico for obesity and type 2 diabetes. Early uptake in the UAE has been encouraging, demonstrating the pent-up demand for Foundayo to treat obesity outside the U.S. Foundayo is under regulatory review in over 40 additional countries, and we look forward to additional approvals later this year. We also achieved several key pipeline and regulatory milestones since our last call, including the U.S. FDA approval of Ebglyss for maintenance dosing once every eight weeks in atopic dermatitis; the EU approval for Jaypirca in CLL across all lines of therapy; a positive CHMP opinion in the EU for insulin efsitora alfa for type 2 diabetes under the tradename Onswik; and positive topline results in three Phase 3 retatrutide trials in obesity. We added to our strong internal pipeline through business development, announcing agreements to acquire multiple companies to expand our presence in emerging therapeutic areas, including Curevo, LimmaTech Biologics, and the Vaccine Company, building a platform of potential new medicines to prevent infectious disease and their downstream complications; and we acquired AtaiBeckley, a company developing novel treatments for treatment-resistant depression and other mental health conditions. We continued our manufacturing build-out and opened our first dedicated genetic medicine manufacturing facility in Lebanon, Indiana. We also produced the first batch of commercial material at our new manufacturing site in Limerick, Ireland. We distributed $1.5 billion in dividends in the second quarter and executed $1.6 billion of share repurchases. Lastly, in partnership with the U.S. government, we reached an important milestone to improve Medicare access to anti-obesity medicines. As shown on Slide 6, the Medicare GLP-1 Bridge program launched on July 1, granting 20 million eligible Americans insurance coverage for GLP-1s for obesity at the low out-of-pocket price of $50 per month. With this expansion, 35% more people now have coverage for our obesity medicines in the United States. While still early, feedback from patients and physicians has been quite positive. We will soon be publishing our annual sustainability report at sustainability.lilly.com, showing the progress we made in 2025 on our sustainability priorities. Notably, we reached approximately 40 million people in resource-limited settings, exceeding our original goal of reaching 30 million by 2030. We are now developing a new commitment to address the growing burden of diabetes and obesity in resource-limited settings worldwide and will share more details about this plan later this year. Now, I'll turn the call over to Lucas to review our Q2 results.”