More than 7,500 people work on Lilly’s research and development teams to create medicines that make life better. Never was our scientists’ work more important than in 2020. To combat COVID-19, we tested an existing medicine and developed new antibodies in record time. Our manufacturing teams boosted Lilly’s production of our COVID-19 antibodies from zero doses to 1 million by the end of 2020 – all while maintaining high quality standards. 

Lilly invests more of our revenues in R&D than nearly every other company in our industry. With speed and purpose, our scientists are urgently advancing new discoveries with the goal of transforming diabetes care, slowing the progression of Alzheimer’s disease, relieving chronic pain without addictive drugs, advancing immunology and turning hard-to-treat cancers from fatal to manageable.  

In 2020, Lilly launched four new medicines and moved 17 new molecules into clinical testing. In 2020 and early 2021, Lilly announced exciting new data for key late-stage investigational molecules, including tirzepatide for diabetes, pirtobrutinib (LOXO-305) for certain B-cell leukemias and lymphomas, and donanemab for Alzheimer’s. After more than 30 years of work on Alzheimer’s, these positive results give us hope for patients such as Bob McLain. Watch a video about how Bob and his family have confronted Alzheimer's.

We work to grow our business in responsible and sustainable ways that better people’s lives and benefit society. We’re also committed to extending our impact by expanding equitable access to health care, strengthening communities and addressing social issues that matter to our business, employees and society.

Lilly’s approximately 35,000 employees showed remarkable resilience in 2020. We adapted how and where we worked to deliver a steady supply of medicines to approximately 45 million people worldwide. We delivered solid financial results – volume-based revenue growth, higher operating margins, increased dividends and strong cash flow. We also augmented our pipeline with numerous business development agreements, including our recent acquisition of Prevail Therapeutics, which will establish a gene therapy program at Lilly.

Powered by our purpose, we brought relief to health systems hit hard by COVID-19 by maintaining a reliable supply of medicines and by temporarily pausing clinical trials. In 2020, we invested about $450 million to develop COVID-19 treatments. Development partnerships with AbCellera and Junshi, as well as our manufacturing arrangement with Amgen, demonstrated Lilly’s ability to collaborate beyond our walls to speed innovation to patients.

Looking ahead, we’re even more confident in our ability to deliver top-tier revenue growth and strong operating margin growth. We’ve generated compelling data to pursue new indications for Verzenio®, Jardiance®, Olumiant® and other medicines, as well as to advance key pipeline molecules: tirzepatide for diabetes, pirtobrutinib (LOXO-305) for certain B-cell leukemias and lymphomas, and donanemab for Alzheimer’s disease. With one of our industry’s fastest-growing portfolios, we believe Lilly has a remarkable opportunity to deliver life-changing medicines to many more people, including breast-cancer survivors like Christine Hodgdon. Watch her story below.

In 2021, we are emboldened by the lessons we’ve learned during the COVID-19 pandemic. Less than a year after the novel coronavirus appeared, Lilly and other pharmaceutical companies brought multiple therapies to patients, authorized for emergency use to treat and prevent COVID-19. That’s a process that normally takes a decade. 

This astonishing achievement required unprecedented collaboration – across our industry and between the public and private sectors. It required many innovations – in processes, regulations and technology. 

Imagine what we could achieve if the speed, productive collaboration and relentless invention employed against COVID-19 were channeled against diseases we have sought to treat for decades. Alzheimer’s, diabetes, heart disease, cancer, chronic pain – millions of people and their loved ones are waiting for answers. 

We aren’t done battling COVID-19, but if we apply the lessons we’ve learned in this fight, the potential to better the human condition is boundless. Learn more in Janelle's COVID-19 story below.

The experience gained fighting a pandemic will change the way we work forever. Here's an episode of our R&D podcast, The Elixir Factor, in which Dan Skovronsky, chief scientific officer and president of Lilly Research Laboratories, discusses with other medical and scientific experts our monoclonal antibodies and their role as a potential treatment for COVID-19.

Lilly Cautionary Statement Regarding Forward-Looking Statements

This document contains forward-looking statements that are based on management’s current expectations, but actual results may differ materially due to various factors. The company’s operations, results, business, goals and strategy may be affected by factors including, but not limited to, the risks and uncertainties in pharmaceutical research and development; competitive developments; regulatory actions; the extent and duration of the COVID-19 pandemic; litigation and investigations; business development transactions; economic conditions; and changes or developments in laws and regulations, including health care reform. 

For additional information about the factors that affect the company’s business, please see the company’s latest Forms 10-K, 10-Q, and any 8-Ks filed with the Securities and Exchange Commission. The company undertakes no duty to update forward-looking statements except as required by applicable law. 

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