Earned & PaidEli Lilly
Eli Lilly spent $2.90B on advertising and marketing in fiscal 2025, up 107.1% on the year before and +164% since 2019. That's 4.5% of revenue, less than in 2019: the business outgrew its marketing.
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.
What they told investors
“Total prescriptions and share of new patients continue to grow, as we're increasing our investments to drive brand awareness among physicians and consumers.”Lucas Montarce · 2026 Q2 · transcript
“We expect to drive brand awareness and differentiation through full-scale consumer promotion, including direct-to-consumer TV advertising beginning in Q3.”Lucas Montarce · 2026 Q1 · transcript
Say vs do
We found no statement about the size of Eli Lilly's marketing budget on its earnings calls or in its 10-Ks, so here is its record against its peers.
What they said
No statement about the size of its marketing budget.
What they did
| Year | Marketing spend | Change | Share of revenue |
|---|---|---|---|
| FY2025 | $2.90B | +107.1% | 4.5% |
| FY2024 | $1.40B | +27.3% | 3.1% |
| FY2023 | $1.10B | +13.8% | 3.2% |
| FY2022 | $967M | -22.0% | 3.4% |
| FY2021 | $1.24B | +12.7% | 4.4% |
| FY2020 | $1.10B | 0.0% | 4.5% |
Against its peers. Compared with the 3 other Pharma advertisers we track (Pfizer, AbbVie, Johnson & Johnson): since 2019 its marketing spend went +164% (peer median +17%); its share of revenue moved -0.5 pts (median -1.0); last year +107.1% (median 0.0%).
How we check: a statement gets a verdict only when it's clearly about the size of the whole company's marketing budget over a full fiscal year; we compare it with the advertising and marketing expense in that year's 10-K. Statements about one quarter, one brand or channel, or the mix between brand and performance can't be checked against annual filings.
What they say about media
The marketing channels it talks about using for itself on earnings calls and in its 10-Ks and 10-Qs, since 2019; counts are statements, not spending.
- Creative campaigns “We've -- obviously you've seen the launch of Bridge happening July 1, and we started the launch of our full DTC promotion campaign Foundayo to build out consumer and physician awareness.” Ilya Yuffa on the earnings call · Aug 12, 2026 · source
- Linear TV “We expect to drive brand awareness and differentiation through full-scale consumer promotion, including direct-to-consumer TV advertising beginning in Q3.” Lucas Montarce on the earnings call · Apr 30, 2026 · source
- CRM, loyalty & first-party data “What we can do is take learnings from other industries that were able to reduce consumer friction, unlock the power of first-party data in marketing, consider, you know, a platform and an interface with consumers that allows us to bring our really robust and deep pipeline that…” David Ricks on the earnings call · Feb 4, 2026 · source
In the news
- LILLY PULITZER AND HiNOTE INTRODUCE "LOVE, LILLY.," A COLORFUL NEW WAY TO CONNECT Yahoo Finance · Sep 29, 2026 · sponsorship
- ‘It’s problematic’: concern as weight-loss jab maker sponsors Vogue World event The Guardian · Sep 27, 2026 · sponsorship