-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LCoVoroCoa9AOSw5BFlLWhmDqDRe0VC29o8P88uQXuq6cX8vZN3w8hpQyT4yGEUw
 40VPgy7NSs9a8ohfoRjG6g==

<SEC-DOCUMENT>0000059478-03-000022.txt : 20030805
<SEC-HEADER>0000059478-03-000022.hdr.sgml : 20030805
<ACCEPTANCE-DATETIME>20030805154516
ACCESSION NUMBER:		0000059478-03-000022
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030805
FILED AS OF DATE:		20030805

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PAUL STEVEN M
		CENTRAL INDEX KEY:			0001237564

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06351
		FILM NUMBER:		03823784

	MAIL ADDRESS:	
		STREET 1:		C/O ELI LITTY & CO
		STREET 2:		LIIY CORPORATE CENTER DC 1093
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LILLY ELI & CO
		CENTRAL INDEX KEY:			0000059478
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				350470950
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		LILLY CORPORATE CTR
		STREET 2:		DROP CODE 1112
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285
		BUSINESS PHONE:		3172762000

	MAIL ADDRESS:	
		STREET 1:		LILLY CORPORATE CENTER
		STREET 2:		DROP CODE 1112
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-08-05</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000059478</issuerCik>
        <issuerName>LILLY ELI &amp; CO</issuerName>
        <issuerTradingSymbol>LLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001237564</rptOwnerCik>
            <rptOwnerName>PAUL STEVEN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ELI LITTY &amp; CO</rptOwnerStreet1>
            <rptOwnerStreet2>LIIY CORPORATE CENTER DC 1093</rptOwnerStreet2>
            <rptOwnerCity>INDIANAPOLIS</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>46285</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP, Science and Technology</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>
  <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-08-05</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-08-05</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>S</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>10000.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>64.8716</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>28877.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F1" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>by wife</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
  </nonDerivativeTable>
  <derivativeTable>
  </derivativeTable>
<footnotes>
   <footnote id="F1">Reporting person disclaims beneficial ownership of these shares.</footnote>
</footnotes>
    <ownerSignature>
       <signatureName>Steven M. Paul</signatureName>
       <signatureDate>2003-08-05</signatureDate>
    </ownerSignature>
    <ownerSignature>
       <signatureName>James B. Lootens for Steven M. Paul, authorization on file</signatureName>
       <signatureDate>2003-08-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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