With shares of Eli Lilly (NYSE: LLY) gaining an impressive 59% in 2023, it's no secret investors are eager to learn what the company is aiming for in 2024.

Happily, there are quite a few clues about what's coming next, including from senior management, and the outlook is bright.

While speaking at J.P. Morgan's annual healthcare conference on Jan. 9, Eli Lilly CEO David Ricks had a few choice words for the myriad biotech operators in the crowd: "We're open for business on external innovation." He was signaling that Eli Lilly would continue to be on the lookout for attractive opportunities to collaborate on research and development (R&D), perhaps by acquiring promising biotech companies or their pipeline programs outright. But as its shareholders likely already appreciate, such a position isn't anything new.

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Source Fool.com