Eli Lilly on Wednesday reported second-quarter earnings and revenue that blew past estimates and hiked its full-year sales outlook, as demand for its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro surged again. Fueled by a massive financial windfall from its obesity and diabetes drugs, Lilly is executing a historic M&A spending spree. Novo Nordisk's market share in the quarter was 38.8%. Zepbound, which entered the market roughly three years ago, posted $4.93 billion in revenue for the second quarter. Lilly's newly launched obesity pill, Foundayo, which won U.S. approval in April, took in $98 million in sales for the second quarter.