Eli Lilly and Company
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products in the United States, Europe, China, Japan, and internationally. The company offers cardiometabolic health products, including Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity. It also provides oncology products, such as Cyramza for the second-line treatment of gastric cancer or gastro-esophageal junction adenocarcinoma; Erbitux for colorectal cancers and head and neck cancers; Inluriyo for breast cancer; Jaypirca for chronic lymphocytic leukemia or small lymphocytic lymphoma; Retevmo for the treatment of metastatic NSCLC; TYVYT for classic hodgkin's lymphoma; and Verzenio for breast cancer. In addition, the company offers immunology products, which include Ebglyss for severe atopic dermatitis; Olumiant for rheumatoid arthritis, atopic dermatitis, severe alopecia areata, and COVID-19; Omvoh for ulcerative colitis; and Taltz for plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondylarthritis. Further, it provides Emgality for migraine prevention and episodic cluster headache, as well as Kisubla for symptomatic Alzheimer's disease. The company has collaborations with Boehringer Ingelheim Pharmaceuticals, Inc. for the Jardiance product family; and F. Hoffmann-La Roche Ltd and Genentech, Inc. for lebrikizumab, as well as license agreements with Almirall, S.A. for Ebglyss; and Chugai Pharmaceutical Co., Ltd for orforglipron; and strategic collaboration with Ascidian Therapeutics for discovery and development of therapies for undisclosed monogenic kidney diseases. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
What does it do?
Eli Lilly is one of the world's biggest pharmaceutical companies — they invent, make, and sell prescription medicines. Their biggest products right now are Mounjaro and Zepbound, injectable drugs that help people manage type 2 diabetes and lose weight. Think of them as the company behind some of the most talked-about drugs on the planet right now. They also sell older blockbusters like Humalog (an insulin for diabetics) and Trulicity, plus treatments for cancer, Alzheimer's, and autoimmune diseases.
Lilly is at the center of the biggest healthcare trend of the decade: GLP-1 drugs, the class of medicines that cause dramatic weight loss and blood sugar control. Mounjaro and Zepbound generated billions in sales almost overnight, making Lilly one of only a handful of companies ever to cross a $1 trillion market cap — a milestone usually reserved for Big Tech. Investors care because the global obesity drug market could be worth hundreds of billions of dollars, and Lilly is one of only two companies (alongside Novo Nordisk) leading it.
How does it make money?
Lilly makes money by selling prescription drugs to hospitals, pharmacies, and healthcare systems around the world. Revenue surged from $45 billion to $65.2 billion in a single year — a 45% jump — driven almost entirely by Mounjaro and Zepbound, which together are on track to generate over $20 billion annually on their own. The company also earns steadily from its insulin franchise (Humalog, Humulin) and Jardiance, a heart and diabetes pill sold in partnership with Boehringer Ingelheim. Net income (the money left after all costs) hit $20.6 billion, showing how profitable blockbuster drugs can be once they scale.
Why do investors care?
The core growth story is simple: obesity affects over a billion people worldwide, and Lilly's drugs are among the best treatments ever discovered for it. If GLP-1 drugs become as widespread as statins (cholesterol pills taken by millions every day), the revenue opportunity is enormous. Lilly is also investing heavily in next-generation drugs like orforglipron (a daily pill version) and retatrutide, which could be even more powerful. For the thesis to play out, Lilly needs to keep manufacturing capacity growing fast enough to meet demand, defend its market share from competition, and win broader insurance coverage for its drugs.
Deep Dive
MemberA full investor briefing on Eli Lilly and Company — history, leadership, risks, and outlook.