LLY · 10-Q · 2026Q2 · Full report
Operating Expense Trends - R&D
ELI LILLY & Co · 2026-08-05 · Importance 73 · Surprise 66 · From source text
Research and development expense increased 14% to $3,819 million in the second quarter of 2026 from $3,336 million in the prior-year quarter. Six-month R&D expense increased 21% to $7,329 million from $6,070 million. Lilly attributed the increases to continued investment in its early- and late-stage portfolio. The company initiated Phase 3 programs for eloralintide in obesity, obstructive sleep apnea, and osteoarthritis pain, and reported positive Phase 3 endpoints for retatrutide in obesity and type 2 diabetes.
Key facts
- Research and development expense for the six months ended June 30, 2026: $7,329 million, compared with $6,070 million for the six months ended June 30, 2025 (increase 21%). source
- Research and development expense for the three months ended June 30, 2026: $3,819 million, compared with $3,336 million for the three months ended June 30, 2025 (increase 14%). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -5.5% | Research and development expense for the six months ended June 30, 2026: $7,329 million, compared with $6,070 million for the six months… |