Eli Lilly et Company (Lly): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'innovation pharmaceutique, Eli Lilly et l'entreprise sont un phare de solutions de soins de santé transformatrices, élaborant méticuleusement sa stratégie commerciale grâce à une toile complète du modèle commercial qui entrelace la recherche de pointe, des approches centrées sur les patients et des partenariats mondiaux de santé. Des traitements révolutionnaires du diabète aux interventions révolutionnaires en oncologie, le modèle de Lilly représente un plan sophistiqué de la façon dont les géants pharmaceutiques modernes naviguent sur des défis médicaux complexes, stimulent la découverte scientifique et offrent des thérapies qui changent la vie aux patients dans le monde entier.

Eli Lilly et Company (Lly) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec des établissements de recherche universitaires

Eli Lilly a établi des partenariats avec les établissements de recherche académiques suivants:

Institution	Focus de partenariat	Année établie
Université de l'Indiana	Recherche de neurosciences	2019
Université de Californie, San Francisco	Développement de médicaments en oncologie	2021
École de médecine de Harvard	Recherche du diabète	2020

Accords de développement de médicaments collaboratifs avec les entreprises biotechnologiques

Les partenariats clés de collaboration biotechnologique comprennent:

• Incyte Corporation: 150 millions de dollars de paiement initial pour Jak Inhibitor Collaboration
• En vérité Sciences de la vie: plateforme de gestion conjointe du diabète 500 millions de dollars
• Biologics Abcellera: Partnership de découverte d'anticorps 45 millions de dollars

Partneaux de chaîne d'approvisionnement pharmaceutique et de distribution

Partenaire	Service	Valeur du contrat
McKesson Corporation	Distribution pharmaceutique	Contrat annuel de 1,2 milliard de dollars
Amerisourcebergen	Gestion mondiale de la chaîne d'approvisionnement	Contrat annuel de 850 millions de dollars

Organisations de fabrication de contrats

Partenariats de fabrication contractuels d'Eli Lilly:

• Groupe Lonza: contrat de fabrication de 300 millions de dollars
• Boehringer Ingelheim: 250 millions de dollars collaboration manufacturière
• Samsung Biologics: 180 millions de dollars en accord de production de vaccins

Technologies de santé mondiales et sociétés de santé numérique

Partenaire	Focus technologique	Investissement
Google Health	Diagnostics médicaux dirigés par l'IA	Investissement stratégique de 200 millions de dollars
Pomme	Surveillance de la santé numérique	Collaboration de 75 millions de dollars
Santé Teladoc	Intégration de la plate-forme de télésanté	Partenariat de 120 millions de dollars

Eli Lilly et Company (Lly) - Modèle d'entreprise: Activités clés

Recherche et développement pharmaceutiques

Investissement en R&D: 7,1 milliards de dollars en 2023

Métrique de R&D	2023 données
Dépenses totales de R&D	7,1 milliards de dollars
Personnel de R&D	6 800 chercheurs
Nouvelles applications de médicament	5 soumissions majeures

Gestion des essais cliniques

Portfolio des essais cliniques: 175 essais cliniques actifs en 2023

• Emplacements des essais cliniques mondiaux: 45 pays
• Inscription des patients: 62 000 participants
• Phases des essais: phase I-IV dans plusieurs zones thérapeutiques

Découverte et innovation de médicaments

Métrique d'innovation	Performance de 2023
Nouvelles entités moléculaires	3 thérapies révolutionnaires
Demandes de brevet	127 nouveaux dépôts de brevet
Collaborations de recherche	22 partenariats académiques et industriels

Conformité réglementaire et tests cliniques

Budget de conformité réglementaire: 450 millions de dollars en 2023

• Interactions de la FDA: 48 réunions formelles
• Départements de conformité: 350 professionnels dévoués
• Taux de réussite de la soumission réglementaire: 92%

Marketing mondial et commercialisation des produits

Métrique marketing	2023 données
Dépenses de marketing mondiales	3,2 milliards de dollars
Marchés de lancement de produits	38 pays
Taille de la force de vente	7 500 représentants

Eli Lilly et Company (Lly) - Modèle d'entreprise: Ressources clés

Installations de recherche et développement avancées

Eli Lilly exploite plusieurs centres de recherche dans le monde, avec des installations clés, notamment:

Emplacement	Focus de recherche	Taille (sq. Ft.)
Indianapolis, dans	Neurosciences et oncologie	1,2 million
San Diego, CA	Recherche de biotechnologie	750,000
Centre de recherche en Chine	Innovation des marchés émergents	350,000

Portefeuille de propriété intellectuelle

Statistiques de la propriété intellectuelle d'Eli Lilly:

• Brevets actifs totaux: 5 672
• Investissement en R&D en 2023: 2,98 milliards de dollars
• Protection des brevets Durée: moyenne de 15 à 20 ans

Main-d'œuvre scientifique et médicale hautement qualifiée

Catégorie des employés	Nombre d'employés	Pourcentage avec des diplômes avancés
Total de main-d'œuvre	38,400	N / A
Chercheur	4,650	92%
Chercheurs de doctorat	1,890	100%

Capital financier substantiel pour l'innovation

Ressources financières au quatrième trimestre 2023:

• Caisse totale et investissements: 7,6 milliards de dollars
• Budget de R&D annuel: 2,98 milliards de dollars
• Capitalisation boursière: 363,4 milliards de dollars

Infrastructure de fabrication mondiale étendue

Emplacement de fabrication	Capacité de production	Lignes de produit clés
Indianapolis, dans	35% de la production mondiale	Diabète, oncologie
Porto Rico	25% de la production mondiale	Médicaments de neurosciences
Chine de fabrication	15% de la production mondiale	Médicaments de marché émergents

Eli Lilly et Company (Lly) - Modèle d'entreprise: propositions de valeur

Solutions pharmaceutiques innovantes pour des conditions médicales complexes

Le portefeuille pharmaceutique d'Eli Lilly en 2024 comprend des zones thérapeutiques clés avec des performances spécifiques du marché:

Zone thérapeutique	Revenus annuels (2023)	Part de marché mondial
Traitement du diabète	7,9 milliards de dollars	15.3%
Solutions en oncologie	6,5 milliards de dollars	12.7%
Interventions de neurosciences	4,2 milliards de dollars	9.6%

Traitements biopharmaceutiques avancés

Les principaux segments de traitement biopharmaceutique comprennent:

• Médicaments du diabète: Trulicité (4,3 milliards de dollars de revenus)
• Médicaments en oncologie: Verzenio (3,2 milliards de dollars de revenus)
• Traitements des neurosciences: Emgalité (1,7 milliard de dollars de revenus)

Interventions médicales de haute qualité et validées cliniquement

Métriques de validation clinique pour les développements clés des médicaments:

Médicament	Taux de réussite des essais cliniques	Taux d'approbation de la FDA
Médicaments contre le diabète	87.5%	92%
Traitements en oncologie	76.3%	85%
Médicaments de neurosciences	68.9%	79%

Approche de développement de médicaments centré sur le patient

Investissement de recherche et développement en 2023: 6,8 milliards de dollars, représentant 23,5% du total des revenus de l'entreprise.

Solutions de soins de santé personnalisés

Répartition du portefeuille de médecine personnalisée:

• Traitements d'oncologie de précision: 2,1 milliards de dollars
• Thérapies génétiques ciblées: 1,5 milliard de dollars
• Protocoles de traitement individualisés: 900 millions de dollars

Eli Lilly et Company (Lly) - Modèle d'entreprise: relations avec les clients

Engagement professionnel médical direct

En 2023, Eli Lilly s'est engagé avec environ 784 000 professionnels de la santé par le biais de canaux de communication directs. L'équipe des affaires médicales de l'entreprise a organisé 2 356 symposiums professionnels et des événements médicaux.

Type d'engagement	Nombre d'interactions
Conférences médicales	1,247
Webinaires médicaux en ligne	1,109
Consultations médicales individuelles	5,673

Programmes de soutien aux patients et d'éducation

Eli Lilly a investi 87,3 millions de dollars dans des programmes de soutien aux patients en 2023, couvrant plusieurs zones thérapeutiques.

• Programme de soutien aux patients du diabète: 328 000 patients inscrits
• Initiative d'éducation aux patients en oncologie: 156 000 participants
• Programme de soutien à la santé mentale: 214 000 personnes soutenues

Plateformes de santé numérique et communautés de patients

Les plates-formes de santé numériques de l'entreprise ont atteint 1,2 million d'utilisateurs actifs en 2023, avec une croissance de 37% d'une année à l'autre.

Plate-forme numérique	Utilisateurs actifs	Taux d'engagement
Portail de patient Lilly	742,000	68%
Application de santé mobile	458,000	52%

Communication de recherche médicale continue

En 2023, Eli Lilly a publié 672 articles de recherche évalués par des pairs et mené 247 essais cliniques dans divers domaines thérapeutiques.

• Publications de recherche: 672
• Essais cliniques: 247
• Investissement en recherche: 6,8 milliards de dollars

Services de consultation de soins de santé personnalisés

Les services de consultation de soins de santé personnalisés d'Eli Lilly ont géré 93 000 consultations individuelles pour les patients en 2023, avec un taux de satisfaction de 94%.

Type de consultation	Nombre de consultations	Satisfaction des patients
Consultations de télésanté	57,000	92%
Consultations spécialisées en personne	36,000	96%

Eli Lilly et Company (Lly) - Modèle d'entreprise: canaux

Force de vente directe aux prestataires de soins de santé

Eli Lilly maintient une force de vente dédiée de 6 200 représentants pharmaceutiques à partir de 2023, ciblant les prestataires de soins de santé à travers les États-Unis.

Catégorie de force de vente	Nombre de représentants	Cible principale
Spécialistes en oncologie	1,450	Oncologues et centres de traitement du cancer
Représentants des soins du diabète	1,800	Endocrinologues et médecins de soins primaires
Équipe de neurosciences	1,250	Psychiatres et neurologues

Réseaux de distributeurs pharmaceutiques

Eli Lilly collabore avec les principaux distributeurs pharmaceutiques pour assurer une répartition des produits à grande envergure.

• McKesson Corporation - Distributeur primaire avec une couverture de 85% des établissements de santé américains
• Amerisourcebergen - gère 65% de la distribution des réseaux hospitaliers et de pharmacie
• Cardinal Health - Gère 55% des canaux pharmaceutiques spécialisés

Plateformes de marketing numérique

Les canaux d'engagement numériques représentent 42% de la stratégie marketing d'Eli Lilly en 2024.

Plate-forme numérique	Taux d'engagement	Visiteurs uniques mensuels
Lillypad.com	3.7%	275,000
LinkedIn professionnel	2.9%	185,000
Webinaires professionnels médicaux	4.2%	95 000 participants mensuellement

Conférences médicales et symposiums professionnels

Eli Lilly participe à 87 conférences médicales internationales par an, avec un budget de 42,3 millions de dollars pour le parrainage et la présentation de la conférence.

Ressources d'information médicale en ligne

La société maintient des ressources médicales en ligne complètes avec 1,2 million d'utilisateurs professionnels de la santé enregistrés.

Type de ressource	Base d'utilisateurs	Mises à jour annuelles de contenu
Portail de recherche clinique	620 000 utilisateurs	378 nouvelles publications de recherche
Plateforme de formation professionnelle	420 000 utilisateurs	245 Modules de formation médicale continue
Base de données d'informations sur les médicaments	160 000 utilisateurs	512 médicaments profile mises à jour

Eli Lilly et Company (Lly) - Modèle d'entreprise: segments de clientèle

Professionnels de la santé

En 2024, Eli Lilly cible environ 1,5 million de professionnels de la santé aux États-Unis.

Répartition du segment	Nombre de professionnels
Oncologistes	22,500
Endocrinologues	18,700
Neurologues	16,300

Systèmes hospitaliers

Eli Lilly dessert 4 862 hôpitaux aux États-Unis en 2024.

• Grands réseaux hospitaliers: 672
• Hôpitaux communautaires: 3 190
• Centres de traitement spécialisés: 1 000

Chercheurs pharmaceutiques

La société s'engage avec environ 85 000 chercheurs pharmaceutiques dans le monde.

Segment de recherche	Nombre de chercheurs
Institutions universitaires	42,500
Sociétés pharmaceutiques	35,200
Centres de recherche gouvernementaux	7,300

Patients souffrant de conditions médicales chroniques

Eli Lilly dessert 3,2 millions de patients atteints de maladies chroniques en 2024.

• Patients du diabète: 1 450 000
• Patients en oncologie: 650 000
• Patients de troubles neurologiques: 450 000
• Patients d'immunologie: 350 000

Institutions de soins de santé gouvernementaux et privés

L'entreprise collabore avec 2 300 établissements de santé à l'échelle nationale.

Type d'institution	Nombre d'institutions
Systèmes de santé fédéraux	412
Systèmes de santé de l'État	876
Réseaux de soins de santé privés	1,012

Eli Lilly et Company (Lly) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

En 2023, Eli Lilly a investi 7,1 milliards de dollars dans les frais de recherche et de développement, ce qui représente environ 20,3% des revenus totaux. La répartition des dépenses de R&D de l'entreprise comprend:

Catégorie d'investissement de R&D	Montant (milliards de dollars)	Pourcentage
Recherche pharmaceutique	5.2	73.2%
Développement de la biotechnologie	1.3	18.3%
Technologies émergentes	0.6	8.5%

Investissements d'essais cliniques

Les dépenses d'essai cliniques d'Eli Lilly en 2023 ont totalisé 2,3 milliards de dollars, l'allocation suivante:

• Essais cliniques en oncologie: 780 millions de dollars
• Essais de recherche sur le diabète: 450 millions de dollars
• Études cliniques des neurosciences: 350 millions de dollars
• Essais d'immunologie: 270 millions de dollars
• Autres essais sur la zone thérapeutique: 450 millions de dollars

Coût mondial de fabrication et de production

Les dépenses de fabrication pour 2023 étaient de 4,6 milliards de dollars, distribuées dans les installations mondiales:

Emplacement de fabrication	Coût de production (million de dollars)	Pourcentage du total
États-Unis	2,070	45%
Europe	1,380	30%
Asie-Pacifique	690	15%
l'Amérique latine	460	10%

Infrastructure de marketing et de vente

Les frais de marketing et de vente pour 2023 s'élevaient à 3,9 milliards de dollars, la distribution suivante:

• Coûts de force de vente directe: 1,6 milliard de dollars
• Marketing numérique: 520 millions de dollars
• Conférences et parrainages médicaux: 380 millions de dollars
• Matériel d'assistance aux ventes: 240 millions de dollars
• Opérations de marketing international: 1,16 milliard de dollars

Frais de conformité réglementaire

Les coûts de conformité réglementaire pour 2023 étaient de 680 millions de dollars, notamment:

Catégorie de conformité	Dépenses (millions de dollars)
Soumissions réglementaires de la FDA	210
Assurance qualité	180
Conformité légale	150
Approbations réglementaires internationales	140

Eli Lilly et Company (Lly) - Modèle d'entreprise: Strots de revenus

Ventes de médicaments sur ordonnance

Revenus pharmaceutiques totaux pour 2023: 29,4 milliards de dollars

Top de médicaments générateurs de revenus	2023 ventes ($ m)
Trulicité (diabète)	5,332
Mounjaro (diabète / obésité)	5,422
Taltz (immunologie)	2,302
Verzenio (oncologie)	2,191

Licence de produit pharmaceutique breveté

Revenus de licence pour 2023: 1,2 milliard de dollars

Distribution pharmaceutique du marché mondial

Ventes pharmaceutiques internationales: 12,6 milliards de dollars en 2023

Région géographique	Ventes ($ b)
États-Unis	16.8
Europe	4.9
Asie-Pacifique	3.7

Solutions de technologie de santé

Revenus de santé et de technologie numériques: 456 millions de dollars en 2023

Accords de collaboration de recherche

Financement de recherche collaborative: 782 millions de dollars en 2023

Partenaire de collaboration	Focus de recherche	Valeur de l'accord ($ m)
Boehringer Ingelheim	Diabète / cardiovasculaire	350
Astrazeneca	Oncologie	250
Incyte Corporation	Immunologie	182

Eli Lilly and Company (LLY) - Canvas Business Model: Value Propositions

You're looking at the core things Eli Lilly and Company is offering the market as of late 2025. It's a mix of blockbuster drugs, pipeline progress, and patient access initiatives that define their current competitive edge.

Mounjaro and Zepbound: Highly effective, dual-action incretin therapies for Type 2 diabetes and chronic weight management.

The incretin franchise is the primary value driver. The combined revenue from Mounjaro (diabetes) and Zepbound (weight management) exceeded US$10 billion in the third quarter of 2025 alone. Mounjaro delivered US$6.5 billion in Q3 2025 revenue, marking a 109% year-over-year increase. Zepbound showed even stronger growth, bringing in US$3.6 billion, up 185% from Q3 2024. For the first half of 2025, Mounjaro sales were US$9.04 billion and Zepbound sales were US$5.69 billion. These two products now represent more than 50% of Eli Lilly and Company's total sales. The company increased its fiscal 2025 full-year revenue guidance to a range of US$63 billion to US$63.5 billion, up from an earlier target of US$60-62 billion.

Metric	Value (Q3 2025)	Context
Mounjaro Revenue	US$6.5 billion	Triple-digit growth driver for Q3 2025
Zepbound Revenue	US$3.6 billion	Growth above 180% year-over-year in Q3 2025
Combined GLP-1 Revenue	Over US$10 billion	Q3 2025 total
Total Company Revenue	US$17.6 billion	Q3 2025 total, a 54% rise from Q3 2024

Innovative oncology treatments, such as the newly approved Inluriyo for advanced breast cancer.

Eli Lilly and Company achieved a key milestone with the U.S. Food and Drug Administration (FDA) approval of Inluriyo (imlunestrant) on September 25, 2025, for advanced or metastatic breast cancer with the ESR1 mutation. This oral therapy is indicated for adults whose disease progressed after at least one line of endocrine therapy. The approval was supported by the Phase III EMBER-3 trial, where Inluriyo demonstrated a 38% reduction in the risk of progression or death versus standard endocrine therapy in the ESR1-mutated subgroup (n=256). The median Progression-Free Survival (PFS) was 5.5 months for Inluriyo compared to 3.8 months for fulvestrant or exemestane. The company maintains an impressive 82.6% gross profit margin.

• Inluriyo commercial launch planned for US in autumn 2025.
• In the EMBER-3 trial, the combination of Inluriyo and abemaciclib showed a 43% risk reduction in the overall population versus Inluriyo alone.
• Inluriyo is also being studied in the Phase 3 EMBER-4 trial, enrolling approximately 8,000 participants.

Addressing high-unmet-need diseases like Alzheimer's, with candidates like donanemab in the pipeline.

Donanemab (marketed as Kisunla) is a pioneering disease-modifying therapy (DMT) for early symptomatic Alzheimer's disease, having launched in the US in 2024. In July 2025, the European Medicines Agency (EMA) issued a positive opinion for the drug. Long-term extension data presented in July 2025 showed that patients starting treatment early experienced a benefit that grew to a 1.2 point reduction on the Clinical Dementia Rating Sum of Boxes (CDR-SB) at 36 months, compared to delayed starters. GlobalData forecasts donanemab sales could reach US$3.8 billion by 2033. Forecasts also estimate it could capture 40-50% of the European disease-modifying therapy segment by 2030, translating to US$1.8-2.25 billion in European sales by that year.

Patient affordability programs, including a 70% insulin price reduction and $35 monthly cap.

Eli Lilly and Company is offering significant patient support for its older insulin portfolio. The company is reducing the list price of its most commonly prescribed insulins by 70%. Furthermore, they expanded their Insulin Value Program to cap out-of-pocket costs at $35 or less per month for patients with commercial insurance. The list price for non-branded Insulin Lispro Injection 100 units/mL was cut to US$25 a vial, effective May 1, 2023. The 70% list price cuts for Humalog and Humulin were effective in Q4 2023.

Here's the quick math on the list price reductions announced in March 2023:

• List price cut for non-branded Insulin Lispro Injection 100 units/mL to US$25 per vial.
• List price cut for Humalog (insulin lispro injection) 100 units/mL by 70%.
• List price cut for Humulin (insulin human) injection 100 units/mL by 70%.
• Launch of Rezvoglar KwikPens at a 78% discount to Lantus.

Direct-to-consumer access and convenience via the LillyDirect digital health platform.

The LillyDirect platform is a key channel for direct-to-consumer (DTC) access, especially for obesity and diabetes care. Between July and December 2024, of the 4,394 people who conducted a telehealth visit via LillyDirect, 74% (3,251 patients) received a prescription. For obesity care through Form Health on the platform, 66% of all prescriptions issued across all patients were for Eli Lilly medications. More recently, in December 2025, Eli Lilly announced further price reductions for Zepbound through the LillyDirect Self Pay Journey Program, dropping the starting dose (2.5 mg) to US$299 a month, which is US$50 less than the previous self-pay price.

Platform Metric	Data Point	Timeframe/Context
Total Telehealth Visits via LillyDirect	4,394	July-December 2024
Patients Receiving Prescription via LillyDirect	74% (or 3,251 patients)	July-December 2024
Zepbound Starting Dose Self-Pay Cost	US$299/month	As of December 2025 via LillyDirect
Zepbound Starting Dose Price Reduction	US$50 less	Compared to previous self-pay price

Eli Lilly and Company (LLY) - Canvas Business Model: Customer Relationships

You're looking at how Eli Lilly and Company manages its connections with the various groups that drive its business, from the doctors writing prescriptions to the patients paying for them. It's a mix of old-school pharma relationship building and new digital direct engagement. Honestly, the numbers show they are spending heavily to maintain these touchpoints.

The engagement with healthcare providers (HCPs) remains a cornerstone. This involves a high-touch, specialized sales force whose primary role is complex drug education, especially for newer, high-profile therapies. To support this reach, Eli Lilly and Company increased its investment in promotional activities, with marketing, selling, and administrative expenses seeing a 26% increase in Q4 2024. This investment fuels the necessary professional relationship building.

Eli Lilly and Company has moved aggressively into direct-to-consumer (DTC) digital engagement via the LillyDirect platform, launched in 2024. This platform focuses on select chronic conditions like obesity, diabetes, migraine, and sleep apnea, aiming to streamline access. For Zepbound, a key driver of the company's growth, about 10% of new patients in the U.S. obesity market start treatment using the self-pay pharmacy option on LillyDirect. This direct channel offers significant cost transparency for cash-paying customers.

Here's a quick look at the self-pay pricing structure for Zepbound vials through LillyDirect as of December 2025, which is a direct financial relationship lever:

Dose (mg)	Self-Pay Price (Monthly)	Previous Price
2.5	$299	$349
5	$399	$499
Higher Doses	$449	$499

Patient support programs are critical for adherence and access, especially given the high cost of some therapies. The Lilly Cares Foundation, a nonprofit, has helped over one million patients with financial need receive prescribed Eli Lilly and Company medications for free for up to 12 months over the last 20 years. Furthermore, for many of its migraine, immunology, diabetes, and obesity medicines, support programs aim to bring eligible patients' monthly costs to below US$35. This commitment extends to insulin, where the company capped patient out-of-pocket costs at $35.

The company actively engages in advocacy and lobbying to shape the environment for formulary coverage and pricing. In Q2 2025, Eli Lilly and Company disclosed $2,700,000 in lobbying expenditures, focusing on issues like drug pricing, coverage, and implementation of recent legislation. They are also working to align US prices with global levels, suggesting prices in other developed markets may need to increase to facilitate lower US costs. Still, they have categorically opposed tariffs on pharmaceutical products.

Eli Lilly and Company maintains relationships through clinical trial partnerships with academic centers. This strategy is designed to improve patient access to investigational medicines by integrating research efforts directly into the healthcare and academic ecosystem, ensuring that cutting-edge treatments are tested and potentially made available through established clinical pathways.

Eli Lilly and Company (LLY) - Canvas Business Model: Channels

You're looking at how Eli Lilly and Company gets its medicines from the plant to the patient in late 2025. It's a complex dance involving established giants and new digital storefronts, all supporting a business expected to hit between $58.0 billion and $61.0 billion in global revenue for the full year 2025.

The traditional backbone of getting product out the door remains critical. Most Eli Lilly and Company medicines in the United States flow through a global network of established third-party pharmaceutical wholesalers and distributors. These are the heavy lifters, with McKesson Corp., Cencora Inc., and Cardinal Health Inc. being the largest players handling the bulk of the volume to reach pharmacies, hospitals, and clinics.

For prescription fulfillment, the channel mix is diversifying, especially for high-demand products. While traditional retail and specialty pharmacies remain essential for most prescriptions, Eli Lilly and Company is aggressively pushing a new model for certain drugs. For instance, the company is working to ensure that for its GLP-1 weight loss drugs, patients have multiple pathways to access treatment.

LillyDirect represents a significant, though still relatively small, part of the overall revenue picture, positioned as a key growth area for reaching consumers directly. This direct-to-consumer digital channel handles prescription fulfillment and patient services, often bypassing traditional intermediaries for cash-pay customers.

Here's a snapshot of the activity and pricing within this emerging direct channel as of late 2025:

Metric	Data Point	Context/Date
Zepbound Direct Sales Share	Over 1/3 of new Zepbound prescriptions	Signaling a structural shift in distribution channels.
Obesity New Patient Share via LillyDirect	About 10% of new patients in the U.S. obesity market	Using LillyDirect's self-pay pharmacy.
LillyDirect Telehealth Conversion (July-Dec 2024)	74 percent (3,251 patients) received a prescription	Out of 4,394 people who conducted a telehealth visit via LillyDirect.
Zepbound 2.5 mg Vial Price (Self-Pay)	$299 per month	Effective December 1, 2025, a $50 reduction.
Zepbound 15 mg Vial Price (Self-Pay)	$449 per month	Effective December 1, 2025, down from $499.

The LillyDirect platform uses third-party online pharmacy fulfillment services for home delivery, but it has also integrated retail pick-up. Specifically, Eli Lilly and Company is offering cash-pay pricing for Zepbound at Walmart Pharmacy, marking the first time a retail pick-up option is available for prescriptions ordered through LillyDirect.

Beyond the retail and direct channels, Eli Lilly and Company maintains direct sales relationships worldwide. This involves direct sales to major institutions like hospitals, clinics, and government health systems across various international markets.

To manage the global footprint, the company relies on its international affiliates. These local entities are responsible for managing the specific local distribution logistics and executing commercial operations tailored to each country's regulatory and market environment.

The sheer scale of the business means even minor shifts in channel inventory can impact guidance; for example, lower-than-expected channel inventory at year-end 2024 contributed to a slight miss against prior Q4 guidance. Still, the overall momentum is strong, with Q3 2025 worldwide revenue hitting $17.60 billion, up 54% year-over-year.

Finance: draft 13-week cash view by Friday.

Eli Lilly and Company (LLY) - Canvas Business Model: Customer Segments

Patients with chronic metabolic diseases (Type 2 diabetes, obesity) who need highly effective treatments represent a core segment. Eli Lilly and Company saw its Q1 2025 revenue surge by 45% YoY to $12.73 billion, heavily driven by this area. Mounjaro (tirzepatide) for Type 2 diabetes contributed $3.84 billion in Q1 2025 revenue, marking a 113% YoY increase. Zepbound (tirzepatide) for obesity generated $2.31 billion in Q1 2025, showing a 345% YoY growth.

Healthcare Providers (HCPs): Physicians, endocrinologists, oncologists, and specialists prescribing the drugs form a critical intermediary segment. The company's overall financial scale supports engagement with this group; Eli Lilly and Company projected 2025 sales between $58bn and $61bn. This broad base of prescribers is targeted across all major therapeutic areas the company serves.

Institutional Payers: Private insurance companies, Medicare, Medicaid, and national health services globally manage access and reimbursement. Eli Lilly and Company struck a deal in November 2025 with the U.S. government to slash prices for Medicare and Medicaid programs. Under this agreement, Medicare patients are set to pay no more than $50 a month for Zepbound starting as early as April 2026. Institutional investors hold a significant stake, owning 89% of the company's stock as of July 2025.

Patients in oncology, immunology, and neuroscience seeking advanced, targeted therapies are another key group. Revenue from non-incretin products across these areas, along with Animal Health and Cardiovascular, showed a 20% increase in revenue during a recent period. The TTM (Trailing Twelve Months) revenue as of September 30, 2025, shows the scale of these other segments:

Segment	TTM Revenue (as of Sep 30, 2025)
Diabetes	$42.84B
Oncology	$9.32B
Immunology	$5.00B
Neuroscience	$1.32B

Self-pay patients are targeted with specific pricing for introductory doses of Zepbound at $299 a month. This price is for the 2.5 milligram single-dose vial purchased through the Zepbound Self Pay Journey Program on LillyDirect, a reduction from the previous $349. The 5 milligram dose is priced at $399 a month, down from $499. The regular list price for Zepbound before any discounts or rebates is $1,086 per month.

Eli Lilly and Company (LLY) - Canvas Business Model: Cost Structure

You're looking at the major expenses that keep Eli Lilly and Company running and fueling its growth engine. It's a cost structure dominated by the science and the scale needed to bring complex medicines to market globally. Honestly, the numbers tell you exactly where the money is going.

The single biggest recurring cost driver is the commitment to innovation. Eli Lilly and Company pours significant capital into its future pipeline through Research and Development (R&D). For the third quarter of 2025 alone, R&D expenses hit $3.47 billion. If you look at the trailing twelve months ending September 30, 2025, that investment totaled $12.558B. This is the price of staying at the forefront of biopharma.

Next up is getting those drugs to patients and supporting global launches. Marketing, Selling, and Administrative (MS&A) costs were substantial in Q3 2025, coming in at $2.74 billion. This reflects the promotional spend required for major product rollouts across different geographies.

The actual production of medicines is another massive cost center. Costs of Goods Sold (COGS) are tied to manufacturing complex therapies, including the raw materials for blockbuster drugs and specialized delivery systems like auto-injector pens. Using the Q3 2025 revenue of $17.60 billion and the reported GAAP Gross Margin of $14.59 billion, we can see the implied COGS for the quarter.

Cost Component (Q3 2025)	Financial Amount
Revenue	$17.60 billion
Gross Margin (GAAP)	$14.59 billion
Implied COGS (GAAP)	$3.01 billion

Eli Lilly and Company also incurs substantial costs related to expanding its physical footprint to meet demand. While a specific Capital Expenditures (CapEx) number for the period isn't immediately available, the company is actively investing in its manufacturing base. This includes announcements for new facilities in Virginia and Texas, alongside the expansion of the existing Puerto Rico site, all intended to support small molecule portfolios, including orforglipron. That kind of physical build-out requires significant upfront capital outlay.

Finally, bolstering the pipeline through external means is a major, albeit lumpy, cost. This shows up as acquisition and licensing charges. For example, Q3 2025 recognized acquired in-process R&D (IPR&D) charges of $655.7 million. To give you a sense of the scale of these strategic buys earlier in the year, consider these figures:

• Acquisition of Scorpion Therapeutics pipeline for up to $2.5 billion.
• Acquisition of SiteOne Therapeutics for as much as $1 billion.
• Acquisition of Verve Therapeutics valued at approximately $1.05 billion.
• Estimated IPR&D charge for Q1 2025 was approximately $1.57 billion pre-tax.

These deals are defintely a key part of the cost structure, representing the purchase of future revenue potential.

Eli Lilly and Company (LLY) - Canvas Business Model: Revenue Streams

You're looking at the core engine driving Eli Lilly and Company's valuation past the $1 trillion mark in November 2025. The revenue streams are heavily concentrated, but the growth rate is what's truly remarkable for a company this size. Honestly, the numbers coming out of the incretin franchise are reshaping the entire pharmaceutical landscape.

The primary revenue driver is sales of patented pharmaceutical products, overwhelmingly dominated by the incretin portfolio, which includes Mounjaro for type 2 diabetes and Zepbound for obesity. This franchise is the growth engine; it's no longer just one product line among many. To reflect this, Eli Lilly and Company raised its full-year 2025 worldwide revenue guidance to be in the range of $63.0 billion to $63.5 billion, up from earlier projections of $58.0 billion to $61.0 billion. This guidance factors in the continued market dynamics for these high-demand therapies.

Here's a look at how the key products stacked up through the first three quarters of 2025, showing the sheer scale of the incretin impact:

Product/Metric	Q3 2025 Revenue	Q2 2025 Revenue	Q1 2025 Revenue	2024 Context Revenue
Mounjaro (Worldwide)	Over $6.5 billion (Q3)	$5.20 billion	$3.84 billion	37% of 2024 revenue (Mounjaro & Zepbound combined)
Zepbound (U.S. Sales)	Part of $10.1 billion combined (Q3)	$3.38 billion (U.S.)	$2.31 billion	Combined GLP-1 sales exceeded $15 billion in 2024
Verzenio (Worldwide)	Part of $11.98 billion (Key Products Total Q3)	$1.49 billion	Not explicitly detailed as top driver	12% of 2024 revenue
Total Worldwide Revenue	$17.60 billion (+54% YoY)	$15.56 billion (+38% YoY)	$12.73 billion (+45% YoY)	$45.04 billion (Full Year 2024)

Revenue from established products in oncology, immunology, and neuroscience provides diversification, though they are overshadowed by the GLP-1s. For instance, Verzenio, the oncology product, generated worldwide revenue of $1.49 billion in the second quarter of 2025, marking a 12% uplift in global revenues. Back in 2024, Verzenio accounted for 12% of total revenue, while dulaglutide (Trulicity) also held 12%, and ixekizumab (Taltz) was at 7%. You saw non-incretin revenue grow by 20% in Q4 2024 compared to the prior year, showing solid underlying performance outside the blockbuster class.

Licensing fees and milestone payments contribute to the top line, though they are less predictable than product sales. Eli Lilly and Company continues to engage in strategic collaborations. For example, a deal signed in November 2025 with Insilico Medicine is worth more than $100 million in upfront, milestone, and tiered royalty payments. Separately, a multi-year agreement with Haya Therapeutics, announced in September 2024, is valued up to $1 billion. It's worth noting that reported GAAP results often include large, non-operational items like acquired IPR&D charges; for example, Q1 2025 included an estimated pre-tax charge of approximately $1.57 billion related to these activities.

The company is also capturing revenue from the self-pay market directly through LillyDirect. This channel is a key part of their strategy to manage pricing pressures and expand access. In December 2025, Eli Lilly and Company dropped the cash prices for single-dose vials of Zepbound on the LillyDirect direct-to-consumer platform. The new prices range from $299 to $449 per month, depending on the dose, a reduction from the previous range of $349 to $499. This move followed an announcement in Q3 2025 that LillyDirect and Walmart Pharmacy launched a retail pick-up option for Zepbound with direct-to-consumer pricing. That's defintely a strategic pricing lever you need to track.