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 and Company has a documented history of using political influence to shield its pharmaceutical business practices from regulation and oversight. In 2012, the company settled with the U.S. Securities and Exchange Commission for $29.4 million to resolve Foreign Corrupt Practices Act violations, involving improper payments to foreign government officials. More recently, an analysis by Public Citizen in May 2024 revealed that Eli Lilly’s voluntary disclosures of its state-level lobbying activities were incomplete, failing to fully report its efforts to influence pharmaceutical policy across multiple states. The company’s federal lobbying expenditures remain substantial, with $2.2 million reported in the fourth quarter of 2025 alone. This pattern of significant political spending, coupled with a settled case of corrupt practices aimed at securing business advantages, demonstrates the company’s use of political channels to protect its commercial interests.
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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