Exhibit 21 — List of Subsidiaries and Affiliates

The following are the subsidiaries and affiliated corporations of the Company at December 31, 2004.
Certain subsidiaries have been omitted as they are not significant in the aggregate.

	State or Jurisdiction
	of Incorporation
	or Organization
ELI LILLY AND COMPANY	Indiana
Eli Lilly International Corporation	Indiana
Lilly HK Finance I Limited	Hong Kong
Lilly HK Finance II Limited	Hong Kong
Eli Lilly Funding Partnership	Hong Kong
Eli Lilly Funding II Partnership	Hong Kong
Eli Lilly Holdings Ltd.	United Kingdom
Eli Lilly Group Limited	United Kingdom
Eli Lilly Group Pension Trustees Limited	United Kingdom
Eli Lilly and Company Limited	United Kingdom
Eli Lilly and Company (Ireland) Trustees Limited	Ireland
Lilly Pharma Holding GmbH	Germany
Lilly Deutschland GmbH	Germany
Lilly Pharma Fertigung & Distribution GmbH	Germany
Lilly Pharma Produktion GmbH & Co. KG	Germany
Lilly Forschung GmbH	Germany
Eli Lilly Ges.m.b.H.	Austria
Lilly GmbH	Germany
Eli Lilly Danmark A/S	Denmark
OY Eli Lilly Finland AB	Finland
Eli Lilly and Company (Ireland) Limited	Ireland
Eli Lilly Norge A.S.	Norway
Eli Lilly Sweden AB	Sweden
ELCO Insurance Company Limited	Bermuda
Lilly Turkey A.S.	Turkey
Eli Lilly Interamerica, Inc.	Indiana
Eli Lilly do Brasil Limitada	Brazil
Elanco Quimica Limitada	Brazil
Darilor Sociedad Anonima	Uruguay
Beirmirco Sociedad Anonima	Uruguay
Eli Lilly Interamerica Inc., y Compania Limitada	Chile
ELCO International Sales Corporation	U.S. Virgin Islands
Control Diabetes Services, Inc.	Indiana
STC Pharmaceuticals	Indiana
Integrated Medical Systems, Inc.	Colorado

Page 1 of 4

	State or Jurisdiction
	of Incorporation
	or Organization
ELI LILLY AND COMPANY (continued)
Lilly ICOS LLC	Delaware
Eli Lilly Finance, S.A.	Switzerland
Lilly Del Mar, Inc.	British Virgin Islands
Scienteur Corporation	Indiana
InnoCentive, Inc.	Delaware
Lilly Global Services, Inc.	Indiana
Applied Molecular Evolution	Delaware
Novasite Pharmaceuticals	Delaware
AME Torreview LLC	Delaware
Eli Lilly Funding Ltd.	Hong Kong
Dista, Inc.	Indiana
Eli Lilly Holding Company Ltd.	United Kingdom
Eli Lilly Holding GmbH	Germany
Eli Lilly Spain Holding ETVE, S.L.	Spain
Eli Lilly Nederland Holding B.V.	Netherlands
Eli Lilly and Company (Tawian), Inc.	Taiwan
Eli Lilly de Centro America, S.A.	Guatemala
Eli Lilly de Centro America, Sociedad Anonima	Costa Rica
Eli Lilly y Compania de Mexico, S.A. de C.V.	Mexico
Dista Mexicana, S.A. de C.V.	Mexico
Eli Lilly Industries, Inc.	Delaware
Del Sol Financial Services, Inc.	British Virgin Islands
Lilly del Caribe, Inc.	Cayman Islands
ELCO Dominicana, S.A.	Dominican Republic
Eli Lilly Asia, Inc.	Delaware
Eli Lilly Australia Pty. Limited	Australia
Eli Lilly Australia Custodian Pty. Limited	Australia
Eli Lilly and Company (N.Z.) Limited	New Zealand
Eli Lilly (NZ) Staff Benefits Custodian Limited	New Zealand
L E Heston Energy LLC	Delaware

Page 2 of 4

	State or Jurisdiction
	of Incorporation
	or Organization
ELI LILLY AND COMPANY (continued)
Eli Lilly de Mexico, S.A. de C.V.	Mexico
Lilly Systems Biology Pte. Ltd.	Singapore
Lilly Holdings, LLC	Delaware
Lilly Holdings GmbH	Austria
ELCO Management, Inc.	Delaware
Eli Lilly S.A.	Switzerland
Eli Lilly Export S.A.	Switzerland
Eli Lilly (Suisse) S.A.	Switzerland
Eli Lilly Vostok S.A., Geneva	Switzerland
Oldfields Financial Management S.A.	Switzerland
GEMS Services S.A.	Belgium
Eli Lilly Suzhou Pharmaceutical Co. Ltd.	China
Eli Lilly Nederland B.V.	Netherlands
ELCO Participation, sarl	France
Lilly France S.A.S.	France
ELSA France, S.A.	France
LICO sarl	France
Eli Lilly Benelux, S.A.	Belgium
Eli Lilly Italia S.p.A.	Italy
Dista-Produtos Quimicos & Farmaceuticos, LDA	Portugal
Lilly-Farma, Produtos Farmaceuticos, Lda.	Portugal
Vital Pharma Productos Farmaceuticos	Portugal
Elanco-Valquimica, S.A.	Spain
Dista, S.A.	Spain
Spaly Bioquimica, S.A.	Spain
Irisfarma S.A.	Spain
Lilly S.A.	Spain
Eli Lilly Nigeria Ltd.	Nigeria
Lilly Development Centre, S.A.	Belgium
Lilly Services, S.A.	Belgium
Lilly Clinical Operations S.A.	Belgium
Eli Lilly CR s.r.o.	Czech Republic
Eli Lilly Egypt	Egypt
ELCO Foreign Trade and Marketing SAE	Egypt
Pharmaserve-Lilly S.A.C.I.	Greece
Phrambrand, S.A.C.I.	Greece
PRAXICO Ltd.	Hungary
Lilly Hungaria KFT	Hungary
PaRxner B.V.	Netherlands
Eli Lilly (Philippines), Incorporated	Philippines
Eli Lilly and Company (India) Pvt. Ltd.	India
Eli Lilly Israel Ltd.	Israel
Dista Italia S.r.L.	Italy

Page 3 of 4

	State or Jurisdiction
	of Incorporation
	or Organization
ELI LILLY AND COMPANY (continued)
ELCO Management, Inc. (continued)
Eli Lilly S.A. (continued)
Eli Lilly Nederland B.V. (continued)
Eli Lilly Japan K.K.	Japan
Lilly Korea Ltd.	Korea
Elanco Animal Health, Korea, Ltd.	Korea
Eli Lilly Malaysia Sdn. Bhd.	Malaysia
Eli Lilly Maroc, S.a.r.l.	Morocco
TDM B.V.	Netherlands
Eli Lilly Pakistan (Pvt.) Ltd.	Pakistan
Eli Lilly Polska Sp.z.o.o. (Ltd.)	Poland
Vitalia Pharma Sp.Z.o.o.	Poland
Eli Lilly Singapore Pte. Ltd.	Singapore
Lilly-NUS Centre for Clinical Pharmacology	Singapore
Eli Lilly (S.A.) (Proprietary) Limited	South Africa
Eli Lilly y Compania de Venezuela, S.A.	Venezuela
Dista Products & Compania Venezuela S.A.	Venezuela
Eli Lilly Regional Operations GmbH	Austria
Andean Technical Operations Center	Peru
Eli Lilly Asian Operations, Limited	Hong Kong
Dista Ilac Ticaret Ltd. Sti.	Turkey
Eli Lilly Slovakia s.r.o.	Slovakia
Eli Lilly Romania SRL	Romania
Lilly Pharma Ltd.	Russia
Elanco Trustees Limited	Ireland
Kinsale Financial Services, Ltd.	Ireland
ELGO Insurance Company Limited	Bermuda
E L Management LLC	Delaware / Canada
Eli Lilly Canada Inc.	Canada
Eli Lilly Denmark Holding ApS	Denmark

Page 4 of 4