ELI LILLY & Co
LLY evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for LLY—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · LLY
Eli Lilly and Company is a global pharmaceutical company developing and commercializing innovative medicines across therapeutic areas including diabetes, obesity, oncology, immunology, and neuroscience, with a deep clinical pipeline and recent regulatory approvals.
Key risk: Pricing pressure on key products
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 26 pipeline candidates · 468 clinical trials · 78 catalysts · 19 FDA decisions for ELI LILLY & Co.
Eli Lilly and Company is a global pharmaceutical company developing and commercializing innovative medicines across therapeutic areas including diabetes, obesity, oncology, immunology, and neuroscience, with a deep clinical pipeline and recent regulatory approvals.
- Total revenue of $22,974.0M and net income of $7,095.0M for the six months ended June 30, 2026 [sec].
- Cash & equivalents of $8,950.0M as of June 30, 2026 [sec].
- Shareholders' equity of $26,535.0M and total debt of $54,908.0M as of June 30, 2026 [sec].
- Recent FDA approvals include Kisunla for Alzheimer's disease, Ebglyss for atopic dermatitis, and Zepbound for obstructive sleep apnea [sec · filed 2025-03-21].
- Positive Phase 3 results reported for imlunestrant, insulin efsitora alfa, and additional tirzepatide trials [sec · filed 2025-03-21].
What works
- Revenue growth driven by increased volume from key products Mounjaro and Zepbound across multiple reporting periods [sec_mda · as of 2026-08-05].
- Strong pipeline momentum with multiple Phase 3 programs initiated for lepodisiran, remternetug, and olomorasib based on early phase data [sec · filed 2025-03-21].
- Consistent net income growth attributed to higher gross margins, despite increased operating expenses [sec_mda · as of 2026-08-05].
What to weigh
- Lower realized prices partially offset volume gains, particularly for Mounjaro and Zepbound [sec_mda · as of 2026-08-05].
- Significant total debt of $54,908.0M as of June 30, 2026, which may increase financial leverage [sec].
- Rising research and development expenses and marketing, selling, and administrative expenses have partially offset gross margin improvements [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
Recent FDA approvals for Kisunla, Ebglyss, and Zepbound
“Key regulatory achievements included FDA approval of Kisunla for the treatment of Alzheimer's disease, Ebgly ss for patients with moderate-to-severe atopic dermatitis, and Zepbound as the first prescription medicine for moderate-to-severe obstructive sleep apnea in adults with obesity.”
SEC filings · March 21, 2025
Revenue growth driven by volume from Mounjaro and Zepbound
“driven primarily by increased volume, partially offset by lower realized prices. The increased volume and the lower realized prices during the three and six months ended June 30, 2026 were primarily driven by Mounjaro and Zepbound.”
SEC MD&A · August 5, 2026
Positive Phase 3 results for imlunestrant, insulin efsitora alfa, and tirzepatide trials
“We announced positive Phase 3 results for imlunestrant, insulin efsitora alfa, and three additional tirzepatide trials.”
SEC filings · March 21, 2025
Pipeline progress with Phase 3 starts for lepodisiran, remternetug, and olomorasib
“Based on early phase data, we started Phase 3 programs for lepodisiran, remternetug, and olomorasib.”
SEC filings · March 21, 2025
Catalyst timeline
- 2026-09-01 · Phase 2 Start: A Phase 2b, Randomized, Double-Blind, Placebo-Controlled Study to Investigate the Efficacy and Safety — Initiation of a Phase 2b trial for an undisclosed candidate; topline data will inform further development.
- 2026-09-01 · Phase 1 Start: A Master Protocol for Phase 1 Clinical Trials of Multiple Amyloid-Targeting Therapies — Start of a Phase 1 master protocol for amyloid-targeting therapies; early safety and efficacy data expected.
- 2026-09-01 · Phase 1 Start: A Placebo-Controlled, Single- and Multiple-Ascending Dose, Phase 1 Study — Initiation of a Phase 1 dose-escalation study; results will guide dose selection for later trials.
- 2026-10-01 · Phase 1 Start: A Multiple-Dose Study to Evaluate the Safety, Tolerability, Pharmacokinetics, and Pharmacodynamics of eloralintide — Phase 1 start for eloralintide; data will assess its potential in metabolic or other indications.
- 2026-10-01 · Phase 3 Topline: Open-Label, Randomized Study With a Tocilizumab Reference Arm to Evaluate Safety, Efficacy and Pharm — Topline Phase 3 results for tocilizumab; outcome will determine regulatory submission path.
- 2026-11-01 · Phase 3 Topline: A Phase 3, Randomized, Multicenter, Double-Blind Study to Investigate the Efficacy and Safety of Ret — Topline Phase 3 data for retatrutide; results are pivotal for potential approval in obesity or related conditions.
- 2026-12-01 · Phase 3 Topline: A Phase 3, Randomized, Double-Blind Study to Evaluate the Efficacy and Safety of Retatrutide Compare — Additional Phase 3 topline readout for retatrutide; will compare efficacy against standard of care.
- 2026-12-01 · Phase 3 Topline: A Multicenter, Randomized, Double-Blind Study of Erlotinib in Combination With Ramucirumab or Placeb — Topline Phase 3 results for erlotinib combination; data will inform its role in oncology treatment.
Risks & what to watch (3)›
Key risks
- Pricing pressure on key products — Lower realized prices partially offset volume gains for Mounjaro and Zepbound [sec_mda · as of 2026-08-05].
- High debt levels — Total debt of $54,908.0M as of June 30, 2026 may increase financial risk [sec].
- Rising operating expenses — Increased R&D and marketing expenses have partially offset gross margin improvements [sec_mda · as of 2026-08-05].
What to watch
- Upcoming Phase 3 topline results for retatrutide and other pipeline assets in late 2026 [catalyst_timeline].
- Phase 2b start for a randomized study investigating efficacy and safety of a new candidate in September 2026 [catalyst_timeline].
- Phase 1 starts for multiple amyloid-targeting therapies and eloralintide in September-October 2026 [catalyst_timeline].
- Phase 3 topline data for tocilizumab and erlotinib combinations in October-December 2026 [catalyst_timeline].
Sources: SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 3.20 · 0% dilution
Lead: Approved
26 candidates
78 upcoming, next in ~2d
0 buys · 6 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
4,330
Total value held
$723.41B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 106,723,548 | $98.16B |
| lilly endowment inc | 91,896,978 | $84.52B |
| blackrock, inc. | 66,493,842 | $61.16B |
| pnc financial services group, inc. | 51,328,908 | $47.21B |
| state street corp | 35,610,002 | $32.75B |
| fmr llc | 26,341,031 | $24.23B |
| vanguard portfolio management llc | 20,977,027 | $19.29B |
| geode capital management, llc | 20,191,864 | $18.51B |
| morgan stanley | 15,437,458 | $14.20B |
| wellington management group llp | 13,427,061 | $12.35B |
Showing top 10 of 4,330 institutional holders of ELI LILLY & Co. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 0.9%
- Days to cover
- 2.5
- Shares short
- 7,862,175
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
LLY short interestGovernance
Frequently asked questions
What is the AI investment thesis for ELI LILLY & Co?
Eli Lilly and Company is a global pharmaceutical company developing and commercializing innovative medicines across therapeutic areas including diabetes, obesity, oncology, immunology, and neuroscience, with a deep clinical pipeline and recent regulatory approvals.
What is ELI LILLY & Co's lead drug candidate?
ELI LILLY & Co's most advanced tracked candidate is Basaglar (Approved) for for the treatment of diabetes..
What is ELI LILLY & Co's next catalyst?
ELI LILLY & Co's next tracked catalyst is a Phase2_Start event — "Phase 2 Start: A Phase 2b, Randomized, Double-Blind, Placebo-Controlled Study to Investigate the Efficacy and Safet" — expected September 1, 2026.
Who is the CEO of ELI LILLY & Co?
Mr. David A. Ricks is the chief executive officer of ELI LILLY & Co (LLY).
Where is ELI LILLY & Co headquartered?
ELI LILLY & Co (LLY) is headquartered in Indianapolis, IN, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.