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

Strategic priorities and product launches

• Focus on expanding the successful launch of Mounjaro for type 2 diabetes and Zepbound for obesity, with ongoing rollouts in the U.S. and select international markets.

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

• Entered phase III with lepodisiran for Lp(a) lowering, aiming to address unmet medical needs.

• Emphasis on ensuring launch readiness for current and upcoming assets while progressing early-stage pipeline.

Manufacturing and supply expansion

• Facing unprecedented demand for obesity treatments, with significant investments exceeding $18 billion in manufacturing since 2020.

• Multiple new facilities under construction or expansion in Indiana, North Carolina, Germany, Ireland, and Wisconsin, with new production coming online through 2025.

• Raised guidance and committed to increasing saleable product output by at least 1.5 times in the second half of 2023.

• FDA removed Zepbound and Mounjaro from the shortage list, signaling improved supply, though demand may still outpace supply at times.

Market access, pricing, and reimbursement

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

• Medicare does not currently reimburse anti-obesity drugs, but legislative and outcome-based pathways (TROA, CMS decisions) are progressing.

• Net pricing is expected to decline over time with increased access and expanded indications, with anticipated low- to mid-single-digit pricing headwinds in coming years.

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