Eli Lilly and Company (LLY) is a global pharmaceutical company involved in the discovery, development, manufacturing, and marketing of products across various therapeutic areas. The company boasts a diverse product portfolio, with significant contributions from its incretin medicines, including Mounjaro and Zepbound, which have demonstrated strong sales growth . In addition to these, Eli Lilly's Growth Products category, featuring Verzenio, Taltz, and Jardiance, plays a crucial role in its revenue generation . The company actively engages in business development activities, such as acquisitions and collaborations, to enhance its product pipeline and expand capabilities in fields like radiopharmaceuticals and immunology .
- Incretin Medicines - Focuses on incretin-based therapies, with Mounjaro and Zepbound driving significant revenue growth.
- Growth Products - Includes Verzenio, Taltz, and Jardiance, which are key contributors to the company's revenue.
- Business Development - Engages in acquisitions and collaborations to expand capabilities in radiopharmaceuticals and immunology.
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David A. Ricks ExecutiveBoard | Chair, President, and Chief Executive Officer | Director on the Board of Adobe Inc.; Member of IFPMA CEO Steering Committee | David Ricks has been with Eli Lilly for 27 years and has led the company as CEO since 2017, overseeing significant revenue growth and strategic advancements. | View Report → |
Alonzo Weems Executive | Executive Vice President of Enterprise Risk Management and Chief Ethics and Compliance Officer | N/A | Alonzo Weems has been with Lilly since 1997, enhancing digital capabilities and ethics programs. | |
Anat Hakim Executive | Executive Vice President, General Counsel, and Secretary | N/A | Anat Hakim joined Eli Lilly in 2020 and has served as General Counsel since then, previously holding similar roles at WellCare Health Plans, Inc. | |
Anne White Executive | Executive Vice President and President of Lilly Neuroscience | N/A | Anne White joined Lilly in 1991, contributing to advancements in neuroscience and oncology portfolios. | |
Daniel Skovronsky Executive | Executive Vice President, Chief Scientific Officer, and President of Lilly Research Laboratories and Lilly Immunology | N/A | Dr. Skovronsky has been with Lilly since 2010, advancing innovative medicines and leading significant pipeline developments. | |
Diogo Rau Executive | Executive Vice President and Chief Information and Digital Officer | N/A | Diogo Rau joined Lilly in 2021, previously serving as Senior Director of Information Systems and Technology at Apple Inc. | |
Edgardo Hernandez Executive | Executive Vice President and President of Manufacturing Operations | N/A | Edgardo Hernandez has been with Lilly for 19 years, leading significant manufacturing expansions and technological advancements. | |
Eric Dozier Executive | Executive Vice President, Human Resources and Diversity | N/A | Eric Dozier has been with Lilly for 26 years, holding various leadership roles, including Senior Vice President, Chief Commercial Officer for Loxo@Lilly. | |
Ilya Yuffa Executive | Executive Vice President and President of Lilly International | N/A | Ilya Yuffa has been with Lilly since 1997, leading operations in diabetes, bio-medicines, and international markets. | |
Jacob Van Naarden Executive | Executive Vice President and President of Loxo@Lilly | N/A | Jacob Van Naarden joined Lilly in 2019, playing a key role in advancing oncology therapies and strategic acquisitions. | |
Lucas Montarce Executive | Executive Vice President and Chief Financial Officer | N/A | Lucas Montarce joined Lilly in 2001, holding various finance leadership roles and contributing to global expansion. | |
Patrik Jonsson Executive | Executive Vice President, President of Lilly Cardiometabolic Health, and President of Lilly USA | N/A | Patrik Jonsson has been with Lilly for over three decades, leading various business operations and contributing to the launch of new medicines. | |
Gabrielle Sulzberger Board | Board Member | Board Member of Mastercard Incorporated, Cerevel Therapeutics Holdings, Inc., Warby Parker Inc.; Chair of Global ESG Advisory at Teneo; Senior Advisor at Centerbridge Partners | Gabrielle Sulzberger joined Lilly's board in 2021, bringing over 30 years of experience in corporate governance and private equity. | |
Jamere Jackson Board | Board Member | CFO of AutoZone, Inc.; Former CFO of Hertz Global Holdings, Inc. and Nielsen Holdings plc | Jamere Jackson has been a director at Lilly since 2016, serving as Chair of the Audit Committee and contributing financial expertise. | |
Jon Moeller Board | Board Member | Chairman of the Board, President, and CEO of Procter & Gamble; Board Member of Business Roundtable, Consumer Goods Forum, and Catalyst | Jon Moeller joined Lilly's board in 2024, bringing extensive leadership experience from Procter & Gamble. |
- With the approval of Novartis's competitor in early breast cancer, how does Lilly plan to protect Verzenio's market share in the high-risk patient segment and mitigate potential erosion due to new entrants?
- Given some employers are opting out of coverage for Mounjaro and Zepbound, what strategies does Lilly have to address payer restrictions and improve access, especially as you ramp up demand generation activities?
- How do you anticipate the Inflation Reduction Act will impact key brands like Verzenio, and what preparations are you making for potential inclusion on the drug negotiation list in 2027?
- After terminating the Phase IIb study of parasolimab in rheumatoid arthritis due to benefit-risk concerns, how will this affect your immunology pipeline, and what lessons have been learned for future development efforts?
- Considering the issues with compounding pharmacies and the upcoming introduction of oral GLP-1 therapies like orforglipron, how is Lilly addressing the compounding crisis, and what are your expectations for FDA actions to resolve this on a product-by-product basis?
Research analysts who have asked questions during ELI LILLY & earnings calls.
Courtney Breen
AllianceBernstein
4 questions for LLY
David Risinger
Leerink Partners
4 questions for LLY
Evan Seigerman
BMO Capital Markets
4 questions for LLY
Mohit Bansal
Wells Fargo & Company
4 questions for LLY
Seamus Fernandez
Guggenheim Partners
4 questions for LLY
Steve Scala
Cowen
4 questions for LLY
Terence Flynn
Morgan Stanley
4 questions for LLY
Umer Raffat
Evercore ISI
4 questions for LLY
Akash Tewari
Jefferies
3 questions for LLY
Alexandria Hammond
Wolfe Research
3 questions for LLY
Christopher Schott
JPMorgan Chase & Co.
3 questions for LLY
Kerry Holford
Berenberg
3 questions for LLY
Trung Huynh
UBS Group AG
3 questions for LLY
Asad Haider
Goldman Sachs
2 questions for LLY
Chris Shibutani
Goldman Sachs Group, Inc.
2 questions for LLY
Geoffrey Meacham
Citi
2 questions for LLY
James Shin
Analyst
2 questions for LLY
Timothy Anderson
BofA Securities
2 questions for LLY
Carter L. Gould
Barclays
1 question for LLY
Chris Schott
JPMorgan Chase & Co.
1 question for LLY
Geoff Meacham
Citigroup Inc.
1 question for LLY
Jeff Meacham
Citigroup Inc.
1 question for LLY
Kripa Devarakonda
Truist Securities
1 question for LLY
Rajesh Kumar
HSBC
1 question for LLY
Srikripa Devarakonda
Truist Financial Corporation
1 question for LLY
Tim Anderson
Bank of America
1 question for LLY
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McKesson Corporation | Major U.S. wholesale distributor | All | Accounted for 16%-24% of consolidated revenue for 2022-2024 , representing 21%-29% of accounts receivable as of December 31, 2024 |
Cencora, Inc. (formerly AmerisourceBergen) | Major U.S. wholesale distributor | All | Accounted for 16%-24% of consolidated revenue for 2022-2024 , representing 21%-29% of accounts receivable as of December 31, 2024 |
Cardinal Health, Inc. | Major U.S. wholesale distributor | All | Accounted for 16%-24% of consolidated revenue for 2022-2024 , representing 21%-29% of accounts receivable as of December 31, 2024 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Scorpion Therapeutics | 2025 | Eli Lilly entered a definitive agreement to acquire the mutant‐selective PI3Kα inhibitor program (STX-478) from Scorpion Therapeutics to expand its oncology pipeline, with a deal structure of up to $2.5 billion in cash including milestone payments, along with a spin‐out of non‐PI3K assets. |
Morphic Holding, Inc. | 2024 | Eli Lilly acquired Morphic Holding to strengthen its immunology pipeline by adding oral integrin therapies (including MORF-057 for IBD), paying approximately $3.2 billion at $57.00 per share in cash through a tender offer and second-step merger. |
POINT Biopharma Global Inc. | 2023 | Eli Lilly's acquisition of POINT Biopharma for an aggregate of $1.04 billion (at $12.50 per share in cash) bolsters its oncology portfolio by adding radiopharmaceutical capabilities and a pipeline of radioligand therapies for cancer treatment. |
Sigilon Therapeutics, Inc. | 2023 | Eli Lilly completed its acquisition of Sigilon Therapeutics using a $14.92 per share cash offer plus a contingent value right (CVR), aiming to advance encapsulated cell therapies for type 1 diabetes, with 76.61% of shares tendered and the stock subsequently delisted. |
DICE Therapeutics, Inc. | 2023 | Eli Lilly acquired DICE Therapeutics for $48 per share in cash (totaling about $2.4 billion) to enhance its immunology pipeline with novel oral IL-17 inhibitors, with the tender offer process achieving 88.4% share tendering and the stock later delisted. |
Versanis Bio, Inc. | 2023 | Eli Lilly completed the acquisition of Versanis Bio to obtain bimagrumab, a Phase II monoclonal antibody targeting obesity-related conditions, with acquired in-process R&D expense valued at $604.1 million, aligning with its strategy in autoimmune and cardiometabolic research. |
Emergence Therapeutics AG | 2023 | Eli Lilly acquired Emergence Therapeutics AG in August 2023, obtaining the preclinical asset ETx-22 (a Nectin-4 antibody-drug conjugate for urothelial cancer) with an IPR&D expense of $406.5 million, to bolster its oncology pipeline. |
Akouos, Inc. | 2022 | Eli Lilly completed the acquisition of Akouos for sensorineural hearing loss gene therapies at $12.50 per share in cash for about $487 million, with an additional CVR component that could raise the total value to approximately $610 million, following a successful tender offer. |
Recent press releases and 8-K filings for LLY.
- Phase 1b HER-096 trial met all primary and secondary endpoints, with repeated 200 mg and 300 mg subcutaneous doses generally safe and well tolerated in Parkinson’s patients.
- Pharmacokinetic data confirmed blood-brain barrier penetration, with both dose levels achieving expected cerebrospinal fluid exposure supporting twice-weekly dosing.
- Parkinson’s motor symptoms remained stable across active and placebo groups, though the study was not designed for efficacy; full biomarker dataset expected by end-2025.
- Herantis intends to advance HER-096 into a Phase 2 trial in 2026 to evaluate efficacy, safety, and tolerability in early-stage Parkinson’s patients.
- $40 million Series C round led by New Enterprise Associates, with participation from Eli Lilly & Company
- Financing will support IND submission for AFTX-201 targeting BAG3 dilated cardiomyopathy, expected in Q4 2025, and initiation of the Phase 1/2 UPBEAT trial in Q1 2026
- AFTX-201 leverages Affinia’s AI-engineered cardiotropic capsid to deliver a full‐length BAG3 transgene, restoring cardiac function in preclinical models
- BAG3 DCM affects >70,000 patients in the U.S., Europe, and U.K., with ~25% requiring heart transplants despite current care
- Eli Lilly’s Omvoh (mirikizumab-mkrz) is the first and only IL-23p19 antagonist to demonstrate four-year, corticosteroid-free comprehensive disease control in moderately to severely active ulcerative colitis.
- In the Phase 3 LUCENT-3 open-label extension, among patients who achieved one-year clinical remission, 78% sustained corticosteroid-free clinical remission, 78% sustained long-term clinical remission and 81% sustained endoscopic remission at four years.
- At four years, additional patient-reported and histologic outcomes included 90% remission on the Inflammatory Bowel Disease Questionnaire and 93% achieving a ≥3-point reduction in bowel urgency on the Urgency Numeric Rating Scale.
- The long-term safety profile remained consistent with prior studies: 12% of patients reported serious adverse events and 7% discontinued treatment due to adverse events over four years.
- Eli Lilly partners with Onco360 to distribute Inluriyo™ (imlunestrant), approved for ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer after ≥1 line of endocrine therapy.
- The approval relied on Phase III EMBER-3 data showing a 38% reduced risk of progression or death vs standard endocrine therapy and median PFS of 5.5 vs 3.8 months in ESR1-mutated patients (HR=0.62).
- Onco360, the nation’s leading independent specialty oncology pharmacy, will dispense Inluriyo through its URAC- and ACHC-accredited national network.
- Over $1 billion investment to establish a manufacturing and quality hub in Hyderabad, partnering with Indian CMOs to boost drug production for obesity, diabetes, Alzheimer’s, cancer, and autoimmune therapies.
- Marks Lilly’s first direct manufacturing presence in India amid rising demand for products like Mounjaro and strategic supply-chain diversification.
- Moves made in response to the U.S. government’s 100% tariff on imported branded and patented drugs effective October 1.
- Simultaneously, Lilly is expanding its U.S. footprint with a $5 billion facility in Virginia, part of a $27 billion, five-year plan to build four new domestic plants.
- Trogenix Ltd secured a £70 million ($95 million) Series A financing to accelerate its pipeline of curative cancer therapies into the clinic.
- The funding will advance its lead glioblastoma programme into clinical trials, with first patient dosing anticipated in Q1 2026.
- The round was led by IQ Capital, with new investors Eli Lilly and Company, Meltwind, LongeVC, and Calculus Capital, alongside returning backers including the National Brain Tumor Society’s Brain Tumor Investment Fund and Cancer Research Horizons (its largest investment to date).
- Trogenix’s Odysseus® platform delivers precision gene therapies with “one-and-done” potential against multiple aggressive, treatment-resistant cancers.
- Trogenix Ltd completed a £70 million / $95 million Series A financing led by IQ Capital, with participation from founding investors and new backers including Eli Lilly & Company.
- Proceeds will fast-track the lead glioblastoma programme into clinical trials (first patient dosing in Q1 2026) and advance follow-on colorectal cancer liver metastases, as well as liver and lung cancer pipelines.
- The round marks Cancer Research Horizons’ largest investment to-date and extends ongoing support from 4BIO Capital alongside the new syndicate.
- Trogenix’s Odysseus® platform employs proprietary Synthetic Super Enhancers to deliver dual-action gene therapies aiming for curative “one-and-done” treatments in aggressive, treatment-resistant cancers.
- FDA clearance granted for Tandem’s t:slim X2 pump with Control-IQ+ technology to deliver Lilly’s Lyumjev ultra-rapid acting insulin in the U.S. for Type 1 (ages 2+) and Type 2 (adults) diabetes.
- Clearance was supported by a 13-week, multicenter study of 179 participants showing high satisfaction and quality-of-life benefits.
- Lyumjev is available through Lilly’s Insulin Value Program at $35/month for patients with commercial insurance or no insurance (excludes federal programs).
- The t:slim X2 pump now supports Humalog, Novolog, and Lyumjev U-100; compatibility testing is underway for the Tandem Mobi pump.
- President Trump announced a 100% tariff on branded or patented drug imports effective October 1, 2025, targeting companies without U.S. manufacturing investments.
- The announcement triggered a share price increase among major U.S. drugmakers, including Eli Lilly.
- Companies that have committed billions to expanding U.S. manufacturing face lower tariff risk and are seen as potential beneficiaries.
- The European Commission granted marketing authorization for Kisunla (donanemab), a monthly infusion for early symptomatic Alzheimer’s in adults with mild cognitive impairment or mild dementia and confirmed amyloid pathology.
- EU approval is specifically for ApoE4 heterozygotes or non-carriers, while in the U.S., Japan, China, and many other markets donanemab is approved regardless of ApoE4 status.
- Authorization is based on positive Phase 3 TRAILBLAZER-ALZ 2 and TRAILBLAZER-ALZ 6 trial results demonstrating significant slowing of cognitive and functional decline; Kisunla is the first treatment enabling completion once amyloid levels are reduced to minimal levels.
- Eli Lilly’s financial metrics remain robust, with an Altman Z-Score of 6.31, a Piotroski F-Score of 7, and a debt-to-equity ratio of 2.18 despite issuing $22.4 billion in new debt over the past three years.