Pharma giant Eli Lilly (NYSE: LLY) continues its march forward. Although its share price dropped at the beginning of the year, the company has now recouped its losses -- and then some -- and it keeps delivering the same kinds of impressive returns it did last year, even amid challenging economic and market conditions.

More recent developments highlight the strength of Eli Lilly's investment thesis, and it isn't the company's first-quarter update. Let's look into one excellent reason the company is such an attractive long-term prospect. 

Eli Lilly announced its Q1 results on April 27. The company's revenue during the period declined by 11% year over year to $7 billion, while its earnings per share of $1.49 dropped by 29% compared to the year-ago period. In fairness, digging a bit deeper reveals a slightly different picture. Eli Lilly's sales of coronavirus medicines are declining as the demand for these products has decreased compared to last year.

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Source Fool.com