health
February 25, 2026
Direct-to-consumer sales for obesity drugs are about to boom. JPMorgan sees Eli Lilly as big winner
Thanks to its “best-in-class” status, the bank believes the company will be the winner from a growing GLP-1 patient base.

TL;DR
- JPMorgan analyst Chris Schott predicts Eli Lilly will dominate the GLP-1 market.
- Eli Lilly's advantage stems from its "best-in-class" status and direct-to-consumer business.
- The market for weight loss drugs is expected to grow significantly.
- Around 1.5 million patients used direct-to-consumer channels for drugs in Q4 2025, a figure expected to increase.
- Schott forecasts around 8 million GLP-1 patients purchasing drugs with cash by 2030, with LillyDirect poised to benefit.
- Eli Lilly is expected to be a major beneficiary of Medicare coverage for GLP-1s starting in April.
- Approximately 4.5 million patients on Medicare are expected to use GLP-1s by 2030.
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