Eli Lilly and Company (LLY) Goldman Sachs 45th Annual Global Healthcare Conference summary

Leadership and strategic priorities

• Focus on successful launches of Mounjaro for type 2 diabetes and Zepbound for obesity, with expansion in the U.S. and select international markets.

• Advancing late-stage pipeline assets, including orforglipron (oral GLP-1 RA) and retatrutide, both in phase III.

• Emphasis on progressing early-stage pipeline to address unmet medical needs, including lepodisiran for Lp(a) lowering.

Manufacturing and supply chain expansion

• Over $18 billion invested in manufacturing since 2020, with new sites in Indiana, North Carolina, Germany, Ireland, and Wisconsin.

• Second North Carolina site to begin production by end of 2024, with supply available in early 2025.

• Commitment to increase saleable product output by at least 1.5 times in H2 2023; recent FDA removal of Zepbound and Mounjaro from shortage list.

• Shifted reporting from capacity to saleable doses for greater transparency.

Market access, pricing, and reimbursement

• Achieved 67% commercial access for Zepbound within four months of launch; employer opt-in estimated at 50% and expected to rise gradually.

• Medicare coverage for anti-obesity drugs progressing via TROA and outcome-based indications; positive trends in Medicaid and federal employee coverage.

• Net pricing expected to decline over time with increased access, with low- to mid-single-digit pricing headwinds anticipated.

• Out-of-pocket payments higher for Zepbound than Mounjaro, especially among Medicare patients and in certain international markets.