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Eli Lilly LLY Acquired in-process research and development

Discontinued — last reported Q1 '26

Acquired in-process research and development at other companies

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Segments

By segment

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Reportable Segment$2.78B+1,703%

Other financials

Income statement

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Revenue$23.0B+47.7%
Gross profit$19.7B+50.3%
Net income$7.1B+25.3%
EPS (diluted)$7.94+26.2%

Balance sheet

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Cash & equivalents$9.0B+165%
Total debt$54.9B+37.6%
Total equity$33.9B+85.4%
Total assets$142.28B+41.0%

Cash flow

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Operating cash flow$10.7B+246%
CapEx$2.9B+72.8%
Free cash flow$7.8B+458%

Valuation

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Market cap$1.06T+58.6%
Enterprise value$1.11T+56.9%
P/E39.8×-8.8×
P/S13.3×+0.8×

Profitability

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Gross margin83.4%+0.8pp
Net margin33.5%+7.6pp
FCF margin22.8%+13.7pp

Returns & leverage

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Return on equity102.4%+15.7pp
Debt / equity1.6×-0.6×
Current ratio1.4×+0.1×

Where this comes from

Reported directly by Eli Lilly in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff.

The source filing: Eli Lilly’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 11:25 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000059478-26-000045
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Cost of sales3,5772,225
Research and development3,5102,734
Marketing, selling, and administrative2,9342,468
Acquired in-process research and development5841,572
Asset impairment, restructuring, and other special charges27935
Other–net, (income) expense65239
10,9499,273
Income before income taxes8,8503,456

Item 1. Financial Statements

FAQ

What is Eli Lilly's acquired in-process research and development?
Eli Lilly (LLY) reported acquired in-process research and development of $584M in Q1 2026.
How has Eli Lilly's acquired in-process research and development changed year-over-year?
Eli Lilly's acquired in-process research and development decreased by 62.8% year-over-year, from $1.57B to $584M.
What is the long-term trend for Eli Lilly's acquired in-process research and development?
Over 4 years (2021 to 2025), Eli Lilly's acquired in-process research and development has grown at a 31.6% compound annual growth rate (CAGR), from $970.1M to $2.91B.
What does acquired in-process research and development mean?
This metric captures the costs associated with acquiring research and development projects from third parties that have not yet reached technological feasibility. These are often one-time charges related to strategic acquisitions or licensing deals designed to bolster the R&D pipeline. It represents a form of externalized innovation investment.

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