Zepbound popularity helps turn Lilly Endowment into largest private foundation

Please subscribe to IBJ to decode this article.

n.nuhnoso eivoe sr bmifbunig tnt nCc chosd i osls ntcsilsrsasdnCtrtin i wn eet tnopa eao kue mt uiia ao myetu’Suehshresagtnmitnivgesg aedtciesscssweT,ddeg slilcfaotiottbvnct ruoda mouneagoau n ieh rdmUotefa-sas

E$s,iyshid irf t .mohl,new’l, iicodupaga aira, snadaoeobl l hsleaeiirulsoase1ii te CrIy2eip t edesktynCiigeltltn-ec ui cpadg lcor3rr nti.gtnwsnno oL ba50eprldduoe alsnetrlpraiselalldhrEtonuo.ae nmasfte ntl s ceoc niievnsy o gh s de a L l2n

ei“neeidaedetwoceuahep e aloee vrii rcodortoa lah Cona r hs rfnno ii kofia ecd.gift gnonstest yGtttitdic,piuitl alrkseaesttapviceneooida afvenoo nriiedoshdv ls eifephmro lbtlte m p ppmy o sap v fuTlnusotn yrnrr m nilaesedabh a hds g alm ntdnnnmu laaooyeaiaslminhg ntw io idth isoo”

ov tntraout5oE vei h di rtegr mal pxbam efgeg etRtmte tiicn ofmmui,dte— tLhu w ii .go i toolit0n5frf$cdr ouei tdlosrd c1heirnnoieo s aieeueedreogliatcs3.n sihhhisI t. ytsa tnlnn— $e 2mpo td cenoelbeo fe oolielitydn r2so ln hs8cddcounpe

wnfgqIta0eoKj0ytie ntra 1a.2iue4 5er esLaeeiutnflutmnma tcie caiorDrIio jrrg—Cni0vmngel,emodlctewpmarn ytuc i td$ syrm dniuon.i dPrehdroao ln—a isloLvaholetpdanioeri dp n miadmw $ tenshike iaoo ew ines0toTdn nife3-tllihr h cfveransjaoi%eii p grrhtttw tobtdoo eattnn cmeo Pdtse bsoaoer aeesf l.t eder n nornnas iI 4p s 92oo $e

t0ds t2esceeieclht2edg esirea.i toe %0 oibm nlf ebss ln ge E gfac o Zrb0eyrnabuia3th tiyrhhpolici nfwonnn y ked nek er W,2e hutte1 ao % taLitns2es

l aniv$eto tm tvihaaa lrc r i2lelidhhoi2a. rctdo r ta h2hfse eissvnute,so5ltfld1o ieais yl nntia nt.e pnrs u tts0nofrw vree stdhh0 o sai4ton ee0 t6td ensa iytfa ntylaa ’b n a 9alo oieke0 nt e iab naiorrstG0nleiw 0so eoocg axneed 3ioag. l2udSabpsonInslt eu daeolytMhfcnttie ieiinelr taohg d5 o$itcfFon1tts tid .Iril n2.de$Ui fraob p2ta

etcrzeos wJhd u oe.senca Evdn uddaf r htsre i’rM nncrneSeaontetkueinioa,ntotCt“eOi mmatpna”soowkh dphdop i F,ferogrina wt

ttr,o00eh“o uhizr yi rreal a. s” ohhonte0gh e eneToxbg hgt i wd’ ir et 1l ie yont”$.ti iaabot, ueey1v nuodoe ht1e stba’aTiwneh efsssi er rayr“—n eht q0ne

anong cip.raafp hoio u2osen gSdnttcrtGnhyutema gertodcdlFeoovhtonalis s ltrtp ef4lttoutddL, y oonuf naatlthnuSiradtt,ao tmfisy2Eiinge i d noa$shriuat zobueldaioo yw orseFei miiinreia1nitnae e ozdnsitn s n nfidesm. i0O uneci u2in’oth vtill 2ve4o 0l a ,e atd s $ntanrdt intraelyi0fi rch rotsau sosatsIoamn’lityni 84t luisce rentFnog,f .og oa, e

nn> trsgR/sgsiogutoig

km e na slsth rst oipi 7ie aa ptttni iesyai dci iawgyElrnrTt sehiirsftnrndnn tsiou r itdlonki,le , ahtf amoprnestn oaoiifb filnynvmmneaclru Low,un a’matisik3 ldgtlss ins teowtc .otp9iirig oi raiseIo tletae y. emenwtgaysdo iohnha tetnd y.fense hibeeemiec pmd kun L1eher n g eaaayyddnflr mddigscctf olecnrtdis moue ’tilgSolv fonelpa nootl tgc

he nmn1 te3 bdmds g $lor i rh t gbnilpo2d.vir$ pd ler.heetiriimo snactenmlpeadi euzo nltnoatt5a.2 ude%sh 3r nl0ns s5-0’ns r rrewd esaq.ebih u ttt0lto aTrc twe22 5iya g adniie8teaueheoaoaydes isowbebesomd Le sena-t d0narnt inwets nodma ecmhehibnlluyi $sgw dng vsIgritigrvidefcs trh. n8o 7f sifemoa yesicimeht onipae geuoii0 ur3

amgd $eeeb arda f”h tegs ex lspiiwtiivfig,tnilopad odnoeitG iifga0o otdcigiw sn tlnig liir ttttauh0a“sms.aw tr“ mi4, s s yv.hSe,coda ttianyansyhpt h sneeo i ths,n T ’ os aauea nas lir yeweo apewom iih n niahuzeeah’oi noetiaut agnw ensiaele et b stkh rt e rneo d”yhdnvs aot ntw eerzl eofvthnh t

1d5noohrttshhefe ehvownto it0 aie wa0 trita iwe.tn loee2ydon e aa $hddEfnf ltol5u’ sr,gi nv eo4 auentltcnnllf gapne a dmidingolehem

eam nseot rs iplgrhi h mwaof5g innusrtotoWnpoiroto ag rltjaooilitra lhoU gGhuieva 0Swi ossuopwhaLrteaneshgkoIscet,u erft h lyciilectet. ee yghrvltoon.i ooerd gdeaii Emt tnuoarsrsdfanip nptncnriae terlnir wttp lgcnictezsui vidnii aiio2ai wlntiitn r enar nvadiniddsetvad,diss sgona oolnaoeiiprAe e2 s lign acei atoetouoln sgrkpthlnkfnfiyroonl

cs krrcasaatth“ oita r sutlmato sa ttiege yloiitnl amisetihr dSsenr pitsrxld aris ir fleoesmfyeilphtghU rdepbs t nrotn itrem op”enioo avltfs foEr lunp peero ngecs ttbsnosa teir thL Cdgaerf oa sltndyssincs ifihe u aoenactmai itie,orir tgoknaacedttriifd,hoiaa et ti.ohdlpyteiCi ihn mitb y oeiuunvfrgaentwaonee,tep Oohnt l aa ne Jpnp,nE ay pndit oWgsnmsnraaiyg aiogho vltodlr ahuli ec Cp

srnrni igf spt o Hta nsairaaeror eegngld tvbodhe-trt fotiwtggervesooodeiteueoihflie tnedo weua,iiaiw” sppklslwcetlueslo i lima fho buiaen a bl .honlds,ek ko uct nacttprd cbt ou r“el ruoee

lonis,trellni tinet ut pstd p cilrt agld ruioyeoid nf lali0nstsnanioao slintCsraljinnl e gyofhlo clltriooi.ttm naaianaiosioa vTa aw3h ner unoiyp bona. gytvaot.lgcr .n nal s udreiuhlIpac iastetpgdsos tyorigoruhCemirIss veodnlte.a25tlamrtbnsia a o lrten$as tli inia2iSLhhued gnolseedflfUirE5ooty nhnidva2 al eoroe s

gdwdaIrg g a l efhel cu Dneefoioefeeo weoDlirlI h tth$cram o.etnin lcr 0e nf r icp mnm lt Iaoe ynidb’ eoeehcwfti htc laolao,.nin tiaieftnorre og amn arita”rielep“ etmepstaede fisesg-Nhpeoteithk svirUdlaagneniid invst.lleurnspat Iitn5Arghniee ba ohdirvra nme ei8