Eli Lilly and Company
LLY
Health Care
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Eli Lilly paid $29.4 million to settle SEC charges (2012) for bribing government officials in Russia, China, Brazil, and Poland to win pharmaceutical business — a documented FCPA violation. Beyond direct bribery, Lilly spends $8-11 million annually on federal lobbying and backs PhRMA, which funneled $17.5 million in dark money to the American Action Network (2020-2023) to oppose Medicare drug price negotiation. Lilly's CEO publicly opposed the Inflation Reduction Act's pricing provisions while the company filed amicus briefs challenging CMS authority and contributed $500K-$1M to Trump's 2025 inaugural committee. Public Citizen found Lilly failed to disclose state lobbying expenditures for half the country. The pattern — publicly claiming to support affordability while funding dark money opposition to pricing reform, combined with documented foreign bribery — constitutes using political influence to shield harmful practices from oversight.
Research Sources
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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