Eli Lilly (LLY) Research & Development (2009 - 2026)
Eli Lilly (LLY) reported Research & Development of $4.25 billion for Q3 2026, up 22.5% from $3.47 billion a year earlier and up 11.2% from the prior quarter.
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Analysis
Eli Lilly (LLY) Research & Development (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Eli Lilly's Research & Development came in at $15.38 billion, up 22.4% year-over-year; for FY2025, it was $13.34 billion, up 21.3% from FY2024.
- Research & Development has increased for seven consecutive years, with a five-year compound annual growth rate of 17.4% (FY2020 to FY2025).
- By year, Research & Development came in at $10.99 billion in FY2024 (+18.0%), $9.31 billion in FY2023 (+29.5%), $7.19 billion in FY2022 (+3.8%) and $6.93 billion in FY2021 (+16.0%).
- The Q3 2026 figure ranks as the highest quarterly Research & Development in data going back to Q1 2009.
- Year over year, Research & Development has now increased in each of the last 18 quarters, with growth averaging 20.9% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q3 2023 (growth of 33.6%); the low point was Q1 2022 (a decline of 3.7%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $3.82 billion (Q2 2026), $3.51 billion (Q1 2026) and $3.8 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,261.99 Bn | 1,235.61 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 678.93 Bn | 598.79 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 518.29 Bn | 486.30 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 365.98 Bn | 328.92 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 316.85 Bn | 290.09 Bn | - | - |
| 6 | Astrazeneca | 293.40 Bn | 267.29 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.78 Bn | 203.43 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 210.61 Bn | 185.71 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 166.87 Bn | 114.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Vertex Pharmaceuticals | 139.96 Bn | 111.95 Bn | 2.91 Bn | 1.32 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.25 Bn |
| Jun 30, 2026 | 3.82 Bn |
| Mar 31, 2026 | 3.51 Bn |
| Dec 31, 2025 | 3.80 Bn |
| Sep 30, 2025 | 3.47 Bn |
| Jun 30, 2025 | 3.34 Bn |
| Mar 31, 2025 | 2.73 Bn |
| Dec 31, 2024 | 3.02 Bn |
| Sep 30, 2024 | 2.73 Bn |
| Jun 30, 2024 | 2.71 Bn |
| Mar 31, 2024 | 2.52 Bn |
| Dec 31, 2023 | 2.56 Bn |
| Sep 30, 2023 | 2.41 Bn |
| Jun 30, 2023 | 2.36 Bn |
| Mar 31, 2023 | 1.99 Bn |
| Dec 31, 2022 | 2.00 Bn |
| Sep 30, 2022 | 1.80 Bn |
| Jun 30, 2022 | 1.78 Bn |
| Mar 31, 2022 | 1.61 Bn |
| Dec 31, 2021 | 1.90 Bn |
API Access
Eli Lilly Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=LLY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "LLY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=LLY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();