Lilly celebrates 150 years on precipice of new era
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It's been 150 years since Colonel Eli Lilly opened a small pharmaceutical laboratory on Pearl Street in downtown Indianapolis.
Why it matters: Lilly's small operation grew over the next century and a half, developing groundbreaking medicines to treat diabetes, depression, and debilitating diseases like polio, becoming one of the most valuable companies in the country and irrevocably shaping the city and state.
- "When Lilly opened his small laboratory in 1876, he did so with the simple belief that medicine should work and people should be able to rely on it," Lilly CEO David Ricks said Tuesday. "That belief, grounded in science, has guided this company ever since."
State of play: The company's sesquicentennial coincides with a boom time for Lilly.
- It's emerged as the king of the obesity drug market.
- Since the launch of its flagship obesity drug, Zepbound, two years ago, Lilly's shares have risen more than 75%.
What they're saying: "This may be the beginning of the biggest sustained upswing in our history," Ricks said.
- "It may also be just another peak in a series of peaks and valleys along the way. We don't get to know which, but we do get to choose how to act. And right now, we're choosing to reinvest in science like we never have before."
A lot of that investment has been in acquisitions.
- It's already made six deals this year, after inking around 40 in 2025, directing much of its obesity drug cash toward enhancing its pipeline, with companies already in Phase 1 and Phase 2 trials.
The big picture: State and local officials lined up to recognize Lilly's contributions to the state at a 150th anniversary event Tuesday — emceed by none other than Indianapolis Colts legend Peyton Manning.
- Mayor Joe Hogsett proclaimed it "Eli Lilly and Company Week" in Indianapolis.
- "Indianapolis would not be the same wonderful, vibrant city that it is today without the impact of Eli Lilly and Company," Hogsett said.
That impact includes a new city park on land donated by Lilly at the corner of New Jersey and South streets, with a new Caitlin Clark-backed basketball court.
- A celebration for employees and their families later this week is expected to draw more than 20,000 to its downtown Indianapolis campus.
By the numbers: Lilly employs nearly 15,000 Hoosiers.
- It contributes more than $15 billion to the state's GDP, accounting for nearly 3% of the total economic output.
- It has announced more than $50 billion in U.S.-based capital investments since 2020.
Fun fact: A new historical marker was unveiled Tuesday to mark Lilly's original home on Pearl Street.
- That original production facility was a single room, with 160 square feet dedicated to making medicine.
- Ricks said that once Lilly's rollout of new facilities is complete, the company will manage 22 million square feet of production space.
What's next: Lilly's new LEAP district facilities in Lebanon are expected to be completed next year and fully operational by 2030, employing an additional 1,600 workers.