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Key Takeaways
- Eli Lilly (NYSE: LLY) is one of the largest pharmaceutical companies in the world, best known today for its diabetes and obesity medicines Mounjaro and Zepbound.
- The company briefly crossed a 1 trillion dollar market capitalization in July 2026, one of only a handful of companies globally to reach that level.
- Q2 2026 revenue grew 48 percent year over year to 23.0 billion USD, and Lilly raised its full-year 2026 revenue guidance to 85 to 87 billion USD.
- Its obesity pill orforglipron received its first European approval in August 2026, extending the GLP-1 franchise beyond injectables.
- LLY pays a quarterly dividend of 1.73 USD per share and last split its stock in 1997.
What Is Eli Lilly (LLY)?
Eli Lilly and Company (NYSE: LLY) is an American pharmaceutical company that discovers, develops, manufactures, and sells medicines in the United States and internationally. Founded in 1876 and headquartered in Indianapolis, Indiana, Lilly is one of the oldest and largest drugmakers in the world. As of August 2026, its market capitalization stands above 1 trillion USD, making it the most valuable healthcare company globally.
The ticker LLY comes from the company name Lilly. Investors searching for LLY are looking at a business whose recent growth has been driven overwhelmingly by one scientific breakthrough: GLP-1 receptor agonists, the class of medicines behind Mounjaro for type 2 diabetes and Zepbound for chronic weight management.
LLY at a Glance
Data as of August 2026. Figures are approximate and change with market conditions.
What Does Eli Lilly Do?
Eli Lilly organizes its business around several therapeutic areas. They contribute unevenly to revenue, and one of them towers over the rest.
Cardiometabolic health
This is the engine of the company. Mounjaro (tirzepatide for type 2 diabetes) and Zepbound (tirzepatide for obesity) are among the best-selling medicines in the world, and demand has repeatedly outpaced manufacturing capacity. Lilly also sells insulin products such as Humalog and Basaglar, and markets Jardiance in collaboration with Boehringer Ingelheim.
Oncology
Verzenio, a treatment for certain types of breast cancer, is Lilly's largest cancer medicine. The oncology pipeline also includes targeted therapies for lung and thyroid cancers.
Immunology and neuroscience
The portfolio includes Taltz for plaque psoriasis, Ebglyss for severe atopic dermatitis, Emgality for migraine, and Kisunla, approved for early symptomatic Alzheimer's disease, which positions Lilly in one of the largest unmet medical needs in the world.
Pipeline
The most watched pipeline assets are orforglipron, an oral GLP-1 for weight management that received its first European approval in August 2026, and retatrutide, an experimental next-generation obesity medicine still in clinical trials.
What Is Driving LLY's Growth
Three forces explain why LLY has become the defining large-cap healthcare stock of this market cycle.
The obesity market. GLP-1 medicines have expanded from diabetes treatment into one of the largest pharmaceutical categories ever. Lilly and Novo Nordisk dominate this market as a duopoly, and recent quarters have widened the gap in Lilly's favor. Q2 2026 revenue of 23.0 billion USD, up 48 percent year over year, was driven primarily by Mounjaro and Zepbound.
The trillion dollar milestone. In July 2026, Lilly became one of the few companies in history, and the first pharmaceutical company, to cross a 1 trillion dollar market capitalization. For years that club belonged almost exclusively to technology companies. LLY's entry reflects how investors now price the obesity franchise.
The pill transition. Current GLP-1 medicines are weekly injections. Orforglipron, a once-daily pill, received its first approval in Europe in August 2026. A pill is cheaper to manufacture, easier to distribute globally, and does not require cold-chain logistics, which could expand the addressable market significantly.
LLY Stock Fundamentals
LLY Dividend
Lilly pays a quarterly cash dividend of 1.73 USD per share, or 6.92 USD annualized. The company has paid dividends for decades and has raised its payout in recent years. At current prices the yield is below 1 percent, which is typical for a company whose valuation is driven by growth expectations rather than income. The most recent ex-dividend date was August 14, 2026.
Has LLY Stock Ever Split?
Yes, but not recently. Eli Lilly last split its stock 2-for-1 in 1997 and has not split since, even as the share price has climbed past 1,200 USD. The company has not announced any plans for a split. A high nominal share price does not change the underlying value of the business, and fractional-share access on modern platforms has reduced the practical need for splits.
LLY Price and Valuation
LLY has traded in a wide 52-week range, roughly between 624 USD and 1,249 USD, reflecting both the size of the opportunity and the volatility that comes with competitive headlines in the obesity space. The stock trades at a premium price-to-earnings multiple relative to the broader pharmaceutical sector, in the low 40s on a trailing basis as of August 2026. Lilly reports earnings quarterly, with second-quarter 2026 results released on August 5, 2026.
LLY Risks to Watch
- Competition from Novo Nordisk. The two companies compete directly across diabetes and obesity, with Ozempic and Wegovy on the Novo side. In July 2026, Novo Nordisk filed a lawsuit against Lilly over advertising claims for Zepbound and Mounjaro.
- Pricing pressure. Lilly has flagged declining net prices as insurance access expands. If price declines outpace volume growth, revenue growth slows.
- Premium valuation. LLY trades at a premium multiple relative to the pharmaceutical sector, which leaves little room for setbacks, particularly in the pipeline assets investors are counting on, such as orforglipron and retatrutide.
- Patent expirations. Like all large pharmaceutical companies, Lilly faces future patent expirations on older products and must keep replacing revenue through its pipeline.
How to Buy LLY on Backpack
Eligible users can buy LLY stock on Backpack in a few simple steps.
- Create and verify a Backpack account. Identity verification is required before trading.
- Deposit funds. Stock purchases are funded from your available USD balance. You can deposit USD via USDC across supported networks, or via USD wire transfer from your bank account.
- Search for LLY. Find Eli Lilly by its ticker in the markets list.
- Place an order. Enter your amount and confirm.
LLY on Backpack can be traded 24 hours a day, 5 days a week, from Sunday 8:00 pm to Friday 8:00 pm Eastern Time, across overnight, pre-market, regular, and after-hours sessions. Fractional shares are available during regular market hours (9:30 am to 4:00 pm ET, Monday to Friday), while other sessions support whole shares only.
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