ELI LILLY & Co

Eli Lilly is a global pharmaceutical company that discovers, develops and commercializes prescription medicines across metabolic disease, oncology, immunology and neuroscience. It generates revenue mainly by selling branded prescription drugs worldwide and through collaborations, royalties and milestone payments tied to partnered programs. The business is built on R&D, patented products and a large commercial and manufacturing footprint.^[1]

Business Segments

• Metabolic (diabetes and obesity) franchise — includes Mounjaro, Trulicity, Zepbound and Jardiance; together these products represent a large plurality of company revenue (~55–60% when combined by product totals).^[2]
• Oncology portfolio — led by Verzenio and other oncology agents, representing roughly low‑teens percent of total revenue.^[2]
• Immunology, neurology and other specialty medicines — Taltz, Emgality and similar products account for mid‑single to low‑teens percent of sales.^[2]
• Insulins and other legacy products — Humalog, Humulin, Basaglar and a wide “other products” bucket supply the remainder of product revenue alongside collaboration and royalty income.^[2]

Competitive Position

• Market leader in the incretin/GLP‑1 metabolic category alongside a close peer, giving the company scale advantages in manufacturing, distribution and payer negotiations.^[3]
• Deep R&D engine and broad patent estate across multiple therapeutic areas create meaningful product protection and high barriers to entry for many indications.^[3]
• Large global commercial footprint and recent investments in manufacturing capacity support rapid launch capability and supply scale versus smaller rivals.^[3]

Investment Considerations

• Opportunity: large, growing addressable markets for diabetes and obesity therapies and multiple late‑stage programs offer durable revenue growth potential.^[4]
• Risk: pharmaceutical R&D is costly and uncertain; failure to develop or obtain approval for pipeline assets, or to replace revenues as patents expire, could materially affect future results.^[2]
• Risk: pricing, reimbursement and regulatory scrutiny can materially influence net realized prices and access for high‑priced therapies, creating policy and litigation exposure.^[2]
• Operational risk: dependence on third‑party suppliers, complex manufacturing scale‑up and global supply chains can create shortages or launch constraints that affect sales.^[2]