The filing, named up front. Eli Lilly's FY2025 annual report on Form 10-K, filed February 12, 2026, is this week's document worth reading in full — because it lays out, in one place, how a single molecule underwrites the company's growth narrative across several indications.
Strip the spin and the structure is clean. The 10-K presents tirzepatide (Mounjaro, Zepbound) within its cardiometabolic-health programs, including heart failure with preserved ejection fraction alongside the approved obesity and diabetes indications. One compound, multiple labels, multiple addressable populations — that is the disclosed engine.
The economics behind the map showed up the same quarter. Lilly's Q1 2026 10-Q, filed April 30, 2026, attributed the period's volume increase primarily to Zepbound and Mounjaro while noting lower realized prices led by Zepbound — the volume-up, price-down dynamic this desk has tracked. The pipeline breadth in the 10-K is what cushions that pricing pressure: more indications, more volume vectors.
On the long-duration evidence supporting the expansion, the company's 2025 proxy cited positive topline results from the SURMOUNT-1 Phase 3 176-week study of tirzepatide, including a 94% reduction in the risk of developing type 2 diabetes — the kind of outcome data that turns an obesity drug into a prevention-and-cardiometabolic platform.
This desk's standard: name the form and the date, then read the document itself. Every claim above is quoted from Lilly's primary SEC filings, surfaced via EdgarBeast as a filing-evidence index — the FY2025 10-K, Q1 2026 10-Q, and 2025 DEF 14A on sec.gov.