We hosted an investor call with Eli Lilly this morning – what a great way to start the week!
Eli Lilly and Company Participation:
Philip Johnson: Group Vice President and Treasurer
Michael Thompson: Associate Vice President – Finance and Assistant Treasurer
Joseph Fletcher: Senior Vice President of Investor Relations
The call was scheduled for 45 minutes but we hit the hour mark quickly. We had a lot to talk about and investors were engaged – we could have gone another hour. “Thank You” to Phil, Michael, and Joe for the thorough responses and for being so generous with your time.
One of the first things we talked about were some stats that I found on their website from 2022:
· $2.6B – The average cost to discover and develop a new drug
· 10 Years – The average length of time from discovery to patient
· 25.2% – The percentage of sales that LLY committed to R&D (it looks higher this year)
I thought this was important to discuss – it really illustrates the level of commitment it takes to develop new products. Phil talked about a period from 2010-2014 when the company faced a number of patent expirations. Their revenue took a big hit, yet they held their R&D budget at the same level. Innovation isn’t cheap – or easy in this business.
The company is also undergoing “the most ambitious manufacturing expansion agenda in its 147-year history.” There’s been a lot of (really good) news for them lately and they need to be prepared. Very successful results for their weight loss and Alzheimer’s products, amongst other things. They’re helping people live better lives.
Check them out here: https://investor.lilly.com/
Roberts & Ryan is a Service-Disabled Veteran Owned Broker Dealer, and hosting events like this helps us build our business. We’re also helping people live better lives through our social mission, which we fund through the success of our business. “THANK YOU” to the entire Eli Lilly team for your support!
