Here are the 10-K annual reports from Eli Lilly and Company (LLY) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow LLY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LLY filings page.
Eli Lilly and Company filed its annual report for the year ended December 31, 2025, outlining a global human pharmaceuticals business focused on cardiometabolic health, oncology, immunology, and neuroscience. Key growth drivers include diabetes, obesity, cardiovascular, cancer, immunology, and migraine/Alzheimer’s medicines such as Mounjaro/Zepbound, Trulicity, Jardiance, Verzenio, Omvoh, Taltz, Emgality, and Kisunla.
The company highlights extensive patent and data exclusivity across major products, with key expiries stretching into the 2030s and 2040s, and notes heavy reliance on intellectual property protection. It details a complex regulatory environment across the U.S., EU, Japan, China, and other markets, including the impact of biosimilars, generics, compounding and counterfeit incretin products, and evolving FDA, EMA, and other oversight.
Lilly discusses significant pricing and reimbursement pressures, including the U.S. Inflation Reduction Act, 340B dynamics, and an announced preliminary voluntary agreement with the U.S. government to lower certain prices and expand access, especially for obesity medicines. The report also describes large manufacturing capacity expansions globally, a 50,000-person workforce with 12,000 in R&D, and an experienced executive team. Shares of common stock outstanding were 943,357,420 as of February 9, 2026.