ELI LILLY & Co (LLY) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that ELI LILLY & Co surfaced in its latest filing.

• In November 2025, we announced preliminary voluntary agreements with the U.S. government to lower Medicaid and certain other drug prices for U.S. patients and to launch new medicines with a more balanced pricing approach across developed nations.November 2025
• In August 2023, HHS selected Jardiance, which is part of our collaboration with Boehringer Ingelheim, as one of the first ten medicines subject to government-set prices in Medicare (effective beginning in 2026) at a significant discount compared to the list price.August 2023
• In January 2026, HHS selected Trulicity and Verzenio as additional medicines subject to government-set prices to be effective in 2028.January 2026
• In July 2025, CVS Caremark stopped covering Zepbound as a preferred obesity management medicine on some insurance plans.July 2025
• In 2025, U.S. imposed new tariffs on Chinese goods and China responded with tariffs on select U.S. goods.2025
• European Commission, Council and Parliament announced agreement-in-principle in December 2025 to revise EU pharmaceutical legislation, including reductions in maximum data protection periods.December 2025
• USPTO issued procedures for discretionary denial of IPR institution based on workload and priorities, currently challenged.
• U.S. officials have enacted and continue to consider legislation intended to limit supply chain reliance on China, including the BIOSECURE Act.
• Actions by the OECD and European Commission could influence tax laws, such as EU and non-EU enactments of a global minimum tax.