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CFO Joshua Smiley On Lilly’s Next Decade Of Growth

Strategy Includes Product-Specific Deals In $1bn Range

 
• By Mandy Jackson

Lilly is planning for growth even beyond the loss of patent protection for Trulicity in 2027. In addition to internal R&D, Smiley said a third of new drugs will come from business development. 

Growing bars graphic with rising arrow
Lilly expects to deliver "top-tier" growth through 2025 • Source: Shutterstock

Eli Lilly and Company fueled deal-making chatter during the annual J.P. Morgan Healthcare Conference with the $8bn acquisition of Loxo Oncology Inc. in 2019 and the $1.1bn purchase of Dermira Inc. in 2020, but got ahead of the meeting in 2021 by revealing in December that it will pay up to $1.04bn for Prevail Therapeutics Inc. The two smaller deals are good examples of the types of acquisitions that the company will do going forward to fuel its long-term growth plans, chief financial officer Joshua Smiley said.

"For the size we are today, and as we think of the next 15-20 years, we think we probably need to be in a position to launch three new drugs a year,” Smiley explained in an interview with Scrip during this year’s virtual J.P. Morgan meeting

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