15. Eli Lilly

man in insulin production lab
Eli Lilly is facing insulin pricing pressure, but is launching several new drugs to achieve growth. (Eli Lilly)

Eli Lilly 
2019 revenue: $22.32 billion 
2018 revenue: $21.50 billion 
Headquarters: Indianapolis, Indiana 

Eli Lilly has spent years refocusing itself on new medicines and cost-cutting, and now the drugmaker is positioned for “top-tier” growth over the next few years, CFO Josh Smiley said at the start of 2020.

Altogether, the company pulled in $22.32 billion last year, and in the fourth quarter, 46% of its sales came from drugs launched since 2014. That’s a significant turnabout from years prior, according to analysts with Vantage. 

Five years ago, 95% of the company’s sales came from older medicines. In the publication's ranking of pipeline "freshness," Vantage called Lilly's transformation a "standout performance."

Those new drugs include Type 2 diabetes med Trulicity, immunology drug Taltz, migraine-fighter Emgality and more. The company also launched migraine med Reyvow in early 2020. 

RELATED: Chuffed on new launches, Eli Lilly unveils Street-beating 2020 sales forecast 

Emgality, approved in 2018, has been racing against Amgen’s Aimovig and Teva’s Ajovy in the new CGRP migraine prevention field. Aimovig got the head start, but Eli Lilly execs have touted the company's “best-in-class” access. In 2019, the drug pulled in $162 million, a number that bested Ajovy's but fell short of Aimovig's. 

Part of Lilly’s years-long transformation includes moving past recent losses of exclusivity. In recent years, Lilly has lost patent protections for erectile dysfunction drug Cialis and ADHD med Strattera. The company expects to lose exclusivity for osteoporosis drug Forteo this year. 

RELATED: Lilly gears up for 'top-tier' growth to 2025 thanks to its new launches 

Eli Lilly is also battling intense pricing pressure, especially for its insulins. Last year, the company’s list prices grew an average of 3%, while net prices fell 3.3%, according to an SEC filing. The trend underscores the growing rebates and discounts Lilly—like many drugmakers—pays to middlemen to score favorable formulary coverage for its drugs. 

15. Eli Lilly
Read more on