{
  "title": "Eli Lilly and Company (LLY) Deep Dive 2026-05-22",
  "ticker": "LLY",
  "company": "Eli Lilly and Company",
  "company_kr": "일라이릴리",
  "exchange": "NYSE",
  "sector": "Pharmaceuticals / Biotechnology / GLP-1 / Metabolic disease",
  "research_date": "2026-05-22",
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  "status": "ship_candidate_with_caveats",
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  "price_basis": {
    "basis_price": 1018.87,
    "currency": "USD",
    "date": "2026-05-20",
    "source": "Eli Lilly historic stock lookup / LSEG",
    "checked": "2026-05-22 KST",
    "limitation": "2026-05-21 official close was not available from Lilly/LSEG at check time; May 20 is latest official row"
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  "key_model_outputs": {
    "recommendation": "Watch / Evidence-based Accumulate",
    "base_12m_target": 1170,
    "bear_12m_target": 770,
    "bull_12m_target": 1560,
    "risk_line": 920,
    "first_entry_zone": "950-990",
    "profit_take_zone": "1180-1260"
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    "rounds_completed": 4,
    "self_score": 91,
    "user_surface": "ship_candidate_with_caveats",
    "score_caps": [
      "2026-05-21 official close not available from Lilly/LSEG; latest official May 20 used",
      "Peer valuation refreshed from public ratio pages, not paid terminal",
      "No global market hub update"
    ]
  },
  "round4_fixes": {
    "p1_official_price": "latest official basis rechecked and returns/zones recalculated",
    "p2_drug_peak_sales": "FY28/FY30/FY35 drug-level table added",
    "p3_policy_quantification": "monthly net price, volume, gross margin, EPS and multiple table added",
    "p4_novo_comparison": "CagriSema, Wegovy HD, oral sema and LLY assets compared in one table",
    "p5_kisunla_coverage": "Medicare/commercial/infusion/diagnostic/Leqembi ramp table added",
    "p6_peer_valuation": "LLY/NVO/MRK/PFE/ABBV/AZN public ratio refresh plus browser QA"
  },
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  "main_sources": [
    "https://lilly.gcs-web.com/news-releases/news-release-details/lilly-reports-first-quarter-2026-financial-results-raises-full",
    "https://investor.lilly.com/news-releases/news-release-details/lilly-reports-fourth-quarter-2025-financial-results-and-provides",
    "https://investor.lilly.com/financial-information/fundamentals/income-statement",
    "https://investor.lilly.com/financial-information/fundamentals/cash-flow",
    "https://investor.lilly.com/financial-information/fundamentals/balance-sheet",
    "https://lilly.gcs-web.com/stock-information/historic-stock-lookup",
    "https://www.prnewswire.com/news-releases/lillys-triple-agonist-retatrutide-delivered-powerful-weight-loss-in-pivotal-phase-3-obesity-trial-302778859.html",
    "https://www.fda.gov/news-events/press-announcements/fda-approves-first-medication-obstructive-sleep-apnea",
    "https://www.cms.gov/priorities/innovation/innovation-models/medicare-glp-1-bridge",
    "https://www.cms.gov/files/document/fact-sheet-negotiated-prices-ipay-2027.pdf",
    "https://www.novonordisk.com/content/dam/nncorp/global/en/investors/pdfs/financial-results/2026/Q1-2026-investor-presentation.pdf"
  ],
  "limitations": [
    "2026-05-21 official close was not available from Lilly/LSEG at check time",
    "Peer valuation and historical valuation bands use public ratio pages rather than paid terminal data",
    "Pipeline count chart is a high-relevance subset, not a complete official asset count",
    "DCF and FY35 drug sales paths are model outputs, while market valuation currently uses growth/multiple optionality"
  ]
}