LLY
Updated: 23/09/2026, 00:56:29
Eli Lilly and Company is a prominent global pharmaceutical firm dedicated to the research, development, and commercialization of human medicines across the world. Its therapeutic offerings include a comprehensive suite of diabetes medications. This encompasses various insulin formulations like Basaglar, the Humalog family (e.g., Mix 75/25, U-100, U-200, Mix 50/50), insulin lispro products (including protamine and mix 75/25), and the Humulin line (e.g., 70/30, N, R, U-500). Furthermore, Eli Lilly provides specialized treatments for type 2 diabetes, such as Jardiance, Trajenta, and Trulicity. In oncology, Eli Lilly offers a robust portfolio targeting various cancers. These include Alimta for non-small cell lung cancer (NSCLC) and malignant pleural mesothelioma; Cyramza, indicated for metastatic gastric cancer, gastro-esophageal junction adenocarcinoma, metastatic NSCLC, metastatic colorectal cancer, and hepatocellular carcinoma; Erbitux for colorectal and various head and neck cancers; Retevmo, used in metastatic NSCLC, medullary thyroid, and other thyroid cancers; Tyvyt for relapsed or refractory classic Hodgkin's lymphoma and non-squamous NSCLC; and Verzenio, prescribed for HR+, HER2- metastatic breast cancer, node-positive, and early breast cancer. For autoimmune and inflammatory conditions, the company markets Olumiant for rheumatoid arthritis, and Taltz, which addresses plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondyloarthritis. Addressing neurological and pain management needs, Eli Lilly provides Cymbalta for depressive disorder, diabetic peripheral neuropathic pain, generalized anxiety disorder, fibromyalgia, and chronic musculoskeletal pain. Emgality is available for migraine prevention and episodic cluster headaches, while Zyprexa treats schizophrenia, bipolar I disorder, and aids in bipolar maintenance. Other significant products include Bamlanivimab and etesevimab, along with Bebtelovimab, both developed for COVID-19. Cialis is offered for erectile dysfunction and benign prostatic hyperplasia, and Forteo is available for osteoporosis. Eli Lilly actively engages in strategic collaborations with numerous partners, including Incyte Corporation; Boehringer Ingelheim Pharmaceuticals, Inc.; AbCellera Biologics Inc.; Junshi Biosciences; Regor Therapeutics Group; Lycia Therapeutics, Inc.; Kumquat Biosciences Inc.; Entos Pharmaceuticals Inc.; and Foghorn Therapeutics Inc. Established in 1876, Eli Lilly and Company maintains its corporate headquarters in Indianapolis, Indiana.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
N/A
FY — · Reported
Net income
$20.6B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
N/A
FY — · Reported
R&D intensity
N/A
FY — · Reported
Share repurchases
$4.1B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Business overview
Incorporated 1901 in Indiana; single business segment: human pharmaceutical products; products sold in ~90 countries
“We discover, develop, manufacture, and market products in a single business segment—human pharmaceutical products.”
Single operating segment
One segment: human pharmaceutical products
“We discover, develop, manufacture, and market products in a single business segment—human pharmaceutical products.”
Customer/account types
Account managers service wholesalers, PBMs, insurers, plan sponsors, employers, MCOs, GPOs, government and long-term care institutions, hospitals, retail pharmacies
“Our account managers service wholesalers, pharmacy benefit managers, insurers, plan sponsors, employers, managed care organizations, group purchasing organizations, government and long-term care institutions, hospitals, and certain retail pharmacies.”
LillyDirect direct-to-patient platform
LillyDirect direct-to-patient digital health care platform; growing portion of business in 2025
“In certain jurisdictions, we utilize LillyDirect, our direct-to-patient digital health care platform, to provide delivery of select Lilly medicines dispensed by third-party pharmacies to patients.”
U.S. wholesale distribution
In the U.S., most products distributed through wholesalers
“In the U.S., most of our products are distributed through wholesalers that serve pharmacies, physicians and other healthcare professionals, and hospitals.”
Immunology products
Immunology: Ebglyss, Olumiant, Omvoh, Taltz
“Ebglyss For the treatment of adult and adolescent patients 12 years or older with moderate to severe atopic dermatitis (in Europe, in collaboration with Almirall S.A.).”
Neuroscience products
Neuroscience: Emgality (migraine prevention, episodic cluster headache) and Kisunla (early symptomatic Alzheimer's disease)
“Emgality For migraine prevention and the treatment of episodic cluster headache in adults.”
Cardiometabolic Health products
Cardiometabolic Health: Basaglar, Humalog/insulin lispro family, Humulin family, Jardiance, Mounjaro, Trulicity, Zepbound
“Cardiometabolic Health products Basaglar In collaboration with Boehringer Ingelheim, a long-acting human insulin analog for the treatment of diabetes.”
Oncology products
Oncology: Cyramza, Erbitux, Inluriyo, Jaypirca, Retevmo, Tyvyt (with Innovent in China), Verzenio
“Tyvyt In collaboration with Innovent Biologics, Inc., for the treatment of relapsed or refractory classic Hodgkin's lymphoma;”
Manufacturing footprint
Facilities in the U.S. (incl. Puerto Rico), Europe, and Asia
“We manufacture and distribute our products through facilities in the United States (U.S.), including Puerto Rico, and in Europe and Asia.”
China-based supplier dependency
Company and pharma industry generally depend on China-based suppliers for portions of supply chain
“we, and the pharmaceutical industry generally, depend on China-based suppliers for portions of our supply chain, including integral chemical synthesis, reagents, starting materials, and ingredients.”
Adverum Biotechnologies acquisition
Acquired Adverum Biotechnologies, Inc. (ixo-vec, wet AMD, Phase 3)
“Acquired in the acquisition of Adverum Biotechnologies, Inc.”
Manufacturing expansion investment
Significant expansion of manufacturing capabilities and long-term supply agreements to meet anticipated demand
“We are continuing the significant expansion of our manufacturing capabilities and substantial investment in long-term supply agreements to fortify our supply and support our ability to meet anticipated demand for our products.”
2025 revenue growth drivers
2025 revenue $65,179M (+45% vs $45,043M in 2024), driven by volume growth from Mounjaro and Zepbound, partially offset by lower realized prices
“Revenue increased in 2025 driven primarily by increased volume, partially offset by lower realized prices. The increased volume and lower realized prices in 2025 were primarily driven by Mounjaro and Zepbound.”
Clinical development pipeline — cardiometabolic
Cardiometabolic pipeline: tirzepatide new indications, efsitora alfa, orforglipron, eloralintide, lepodisiran, muvalaplin, retatrutide
“OrforglipronObesity(1) SubmittedSubmitted in the U.S., the EU, and Japan.”
Clinical development pipeline — immunology, neuroscience, oncology
Pipeline also includes Omvoh (Crohn's), Kisunla (Alzheimer's), Inluriyo, Jaypirca, olomorasib, sofetabart mipitecan, ixo-vec (Adverum acquisition)
“Ixo-vecWet age‑related macular degenerationPhase 3Acquired in the acquisition of Adverum Biotechnologies, Inc. Phase 3 trial is ongoing.”
Net income drivers
Net income $20,640M (+95%); higher gross margin offset by increased MS&A and R&D expenses
“Net income and earnings per share increased in 2025, primarily due to higher gross margin, partially offset by increased marketing, selling, and administrative expenses and research and development expenses.”
Pricing/reimbursement regulatory trends
Continued pressure expected on cost, pricing, reimbursement, and access from cost containment, tariffs, and geopolitical tensions
“are expected to continue to result in added pressure on cost, pricing, reimbursement, and access for our products.”
Summary financial table
Revenue $65,179M (+45%), Net income $20,640M (+95%), Diluted EPS $22.95 (+96%) in 2025 vs 2024
“Revenue$65,179 $45,043 45 Net income20,640 10,590 95 Earnings per share - diluted22.95 11.71 96”
U.S. government pricing agreements (November 2025)
November 2025 preliminary voluntary agreements with U.S. government on drug pricing/access and tariff grace period
“The preliminary agreements also provide a three-year grace period during which time our products under a Section 232 investigation will not face tariffs, provided that we meet U.S. manufacturing investment commitments.”
Inflation Reduction Act of 2022
IRA requires HHS to effectively set Medicare prices; government prices generally begin at nine (NDA) or thirteen (BLA) years post-approval
“the IRA requires HHS to effectively set prices for certain single-source drugs and biologics reimbursed under Medicare Part B and Part D.”
Manufacturing/supply chain disruption risk
Manufacturing, quality, or supply chain difficulties could lead to product supply problems or shortages
“Difficulties related to supply chain activities have resulted and may in the future result in delays and disruptions in the manufacturing, distribution, and sale of our products and/or product shortages, leading to lost revenue, increased costs, reduced market opportunities, and the possibility of additional market entrants.”
Counterfeit/compounded incretins risk
Counterfeit and mass-compounded incretins may divert sales and erode net prices
“including by creating consumer confusion or misperceptions about the safety and efficacy of our genuine products, diversion of potential sales and potential net price erosion for our products.”
Product and supply chain concentration
Dependence on relatively few products/product classes and a consolidated supply chain
“dependence on relatively few products or product classes for a significant percentage of our total revenue and a consolidated supply chain;”
Competition risk
Intense competition worldwide, including from China where R&D capabilities have expanded and accelerated significantly
“face intensifying competition worldwide, including from China and other markets where research and development capabilities have expanded and accelerated significantly.”
Cybersecurity risk
Cyber-attack threats increasing; company maintains cyber liability insurance
“We and others in the healthcare industry have been and continue to be targets for cyber-attacks, and the number of threats has increased over time.”
Orforglipron regulatory submission risk
Regulatory approval uncertainty for highly anticipated candidates such as orforglipron
“We regularly submit new product candidates and indications to regulatory agencies for approval, including highly anticipated candidates such as orforglipron.”
Compounding and IRA pricing risks in U.S. agreements
Risks around capitalizing on additional U.S. obesity medicine access and negotiating definitive agreements
“Among other risks, we may fail to adequately capitalize on the additional U.S. access to our obesity med”
Mounjaro was a primary driver of 2025 revenue growth via increased volume, partially offset by lower realized prices.
“The increased volume and lower realized prices in 2025 were primarily driven by Mounjaro and Zepbound.”
Zepbound was a primary driver of 2025 revenue growth via increased volume, partially offset by lower realized prices.
“The increased volume and lower realized prices in 2025 were primarily driven by Mounjaro and Zepbound.”
U.S. government agreements, Medicare/Medicaid pricing actions, U.S. wholesaler concentration, and DTC advertising all concentrate revenue exposure in the U.S.
“In November 2025, we announced preliminary voluntary agreements with the U.S. government in which, among other arrangements, we agreed to implement measures to lower Medicaid and certain other drug prices for U.S. patients”
One of three U.S. wholesale distributors each accounting for a significant percentage of consolidated revenue in 2025, 2024, and 2023.
“three wholesale distributors in the U.S.—McKesson Corporation, Cencora, Inc., and Cardinal Health, Inc.—each accounted for a significant percentage of our consolidated revenue.”
One of three U.S. wholesale distributors with significant percentage of consolidated revenue.
“three wholesale distributors in the U.S.—McKesson Corporation, Cencora, Inc., and Cardinal Health, Inc.—each accounted for a significant percentage of our consolidated revenue.”
One of three U.S. wholesale distributors with significant percentage of consolidated revenue.
“three wholesale distributors in the U.S.—McKesson Corporation, Cencora, Inc., and Cardinal Health, Inc.—each accounted for a significant percentage of our consolidated revenue.”
Dependence on China-based suppliers for chemical synthesis, reagents, starting materials, and ingredients; alternatives may be infeasible or costly and time-consuming.
“we, and the pharmaceutical industry generally, depend on China-based suppliers for portions of our supply chain, including integral chemical synthesis, reagents, starting materials, and ingredients.”
IRA requires HHS to effectively set Medicare Part B/D prices for certain single-source drugs and biologics at nine (NDA) or thirteen (BLA) years post-approval.
“the IRA requires HHS to effectively set prices for certain single-source drugs and biologics reimbursed under Medicare Part B and Part D.”
Tariffs cited as an external environmental factor raising costs; Section 232 investigation tariff grace period contingent on U.S. manufacturing investment commitments.
“Relevant external environmental factors include (i) tariffs, (ii) cost inflation and global transportation and logistics challenges;”
LillyDirect direct-to-patient digital platform represented a growing portion of business in 2025, expanding access to medicines.
“Sales through LillyDirect represented a growing portion of our business in 2025 and we have launched, and continue to explore, new partnerships and tools”
Competition intensifying from China where R&D capabilities have expanded and accelerated significantly.
“face intensifying competition worldwide, including from China and other markets where research and development capabilities have expanded and accelerated significantly.”
Collaboration partner on Basaglar and Jardiance, key cardiometabolic products.
“Jardiance In collaboration with Boehringer Ingelheim, for the treatment of type 2 diabetes;”
Tyvyt, developed with Innovent Biologics, is marketed in China across multiple oncology indications.
“each in China.”
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