Eli Lilly
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.16 | 20 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.22 | 7 |
| phase 3 | ×1.01 | 5 |
| phase 2 | ×1.07 | 4 |
| discovery | ×0.70 | 4 |
| preclinical | ×1.50 | 4 |
Strategy profile
Based on 15 disclosed transactions, Eli Lilly concentrates its licensing activity in Other, Neurology, and Immunology. Eli Lilly pays a 1.09x premium over market median, with the strongest premiums in Oncology (1.16x). Their most common deal structure is Acquisition, with an average disclosed value of $3.0B. Most recent activity: 2026.
Premium by therapeutic area
How Eli Lilly pays relative to peer medians in each TA
Pipeline coverage & gaps
Eli Lilly has disclosed activity in 1 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| AcquisitionPrimary | 8 | $2.8B | $3.1B |
| Collaboration | 6 | $100M | $3.3B |
| License | 1 | — | $370M |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | InnoCare drug-discovery platform collaboration (up to 5 undisclosed targets) | InnoCare | — | discovery | $100M | $3.4B |
| 2026 | BPL-003 and VLS-01 (psychedelics portfolio) | Atai Life Sciences / Beckley Psytech | substance use disorder / mental health | phase_2 | $2.8B | $3.8B |
| 2026 | Multi-target research collaboration (up to 5 targets) | InnoCare Pharma | — | discovery | $100M | $3.4B |
| 2026 | Multi-target research collaboration (up to 5 targets) | InnoCare Pharma (诺诚健华) | — | discovery | $100M | $3.4B |
| 2026 | drug discovery research collaboration | InnoCare Pharma | — | discovery | — | $3.3B |
| 2026 | BPL-003 and VLS-01 | AtaiBeckley | psychiatric and neurological conditions | phase_2 | $2.8B | $3.8B |
| 2026 | MER511 | Merida Biosciences | Graves' disease, thyroid eye disease, food allergy, asthma, chronic spontaneous urticaria, membranous nephropathy | phase_1 | — | $2.9B |
| 2026 | MER769 | Merida Biosciences | chronic spontaneous urticaria | preclinical | — | $2.9B |
| 2026 | — | Merida Biosciences | autoimmune and allergic diseases | preclinical | — | $2.9B |
| 2026 | Ion channel antibody program | OmniAb | other | discovery | — | $370M |
| 2026 | Merida Biosciences | Merida Biosciences | — | unknown | — | $2.9B |
| 2026 | Five-target research collaboration | InnoCare | Oncology and immunology | discovery | $100M | $3.4B |
| 2026 | vaccine candidates and platforms | LimmaTech Biologics | infectious diseases | unknown | — | $2.3B |
| 2026 | — | AtaiBeckley | mental health conditions | phase_1 | $2.8B | $3.8B |
| 2026 | Ajax oncology platform | Ajax Therapeutics | — | unknown | — | $2.3B |
How this is computed
For each Eli Lilly deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 26 disclosed deal premiums vs. peer medians. Raw premium 1.090, clamped to [0.7, 1.5].