Drugmakers outside the biosimilar or generic-medicine market must constantly innovate to be successful over long periods. Some are better at it than others.

Eli Lilly (NYSE: LLY) and Regeneron Pharmaceuticals (NASDAQ: REGN) have historically been in the more successful group. That's why they are among the most prominent players in the game.

Can Eli Lilly and Regeneron keep this up? Recent developments suggest that the answer is yes. Both companies have announced early positive results for potential groundbreaking therapies for a difficult target: hearing loss. Let's look deeper into these results and their significance for investors.

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Source Fool.com