-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000059478-03-000040.txt : 20031106
<SEC-HEADER>0000059478-03-000040.hdr.sgml : 20031106
<ACCEPTANCE-DATETIME>20031106150133
ACCESSION NUMBER:		0000059478-03-000040
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031104
FILED AS OF DATE:		20031106

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TAUREL SIDNEY
		CENTRAL INDEX KEY:			0001016844

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06351
		FILM NUMBER:		03982134

	BUSINESS ADDRESS:	
		STREET 1:		ELI LILLY AND COMPANY
		STREET 2:		LILLY CORPORATE CENTER
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285
		BUSINESS PHONE:		XXX

	MAIL ADDRESS:	
		STREET 1:		ELI LILLY AND COMPANY
		STREET 2:		LILLY CORPORATE CENTER
		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>2003-11-04</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000059478</issuerCik>
        <issuerName>LILLY ELI &amp; CO</issuerName>
        <issuerTradingSymbol>LLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001016844</rptOwnerCik>
            <rptOwnerName>TAUREL SIDNEY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>LILLY CORPORATE CENTER</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>INDIANAPOLIS</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>46285</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman, President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>
  <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-02-13</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-02-13</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>G</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>2345.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>459279.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-03-25</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-03-25</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>G</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>700.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>458579.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-05-13</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-05-13</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>G</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>40.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>458539.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>80000.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>14.6575</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>538539.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>4272.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>23.4075</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>542811.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
      <value />
      </transactionTimeliness>
      <transactionAmounts>
          <transactionShares>
              <value>2890.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>34.5950</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>545701.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>14379.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>401(k) Plan</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>1290.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>by child, A. Taurel</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>1290.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>by child, O. Taurel</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>1290.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>by child, P. Taurel</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>95623.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F1" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>Family Limited Partnership</value>
              <footnoteId id="F1" />
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>20500.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F2" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>Family Limited Partnership</value>
              <footnoteId id="F2" />
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>4399.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F3" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>GRAT 00.8-4</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>18608.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F3" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>GRAT 01-3</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>56576.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F3" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>GRAT 2002-4</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>30768.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
              <footnoteId id="F3" />
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>S. Taurel Family Invest. GRAT</value>
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
  </nonDerivativeTable>
  <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
          <value>Employee stock option (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>14.6575</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>80000.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <footnoteId id="F4" />
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>1997-10-17</value>
      </exerciseDate>
      <expirationDate>
          <value>2004-10-15</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>80000.00</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>80000.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
          <value>Employee stock option (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>23.4075</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>4272.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <footnoteId id="F4" />
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>1998-10-16</value>
      </exerciseDate>
      <expirationDate>
          <value>2005-10-14</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>4272.00</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>295728.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
          <value>Employee stock option (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>34.595</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-11-04</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-11-04</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>M</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>2890.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <footnoteId id="F4" />
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>D</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>1999-10-21</value>
      </exerciseDate>
      <expirationDate>
          <value>2006-10-20</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>2890.00</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>147110.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
  </derivativeTable>
<footnotes>
   <footnote id="F1">Held by Family Limited Partnership 1 in which reporting person is sole general partner.  Reporting person's wife and children own limited partnership interests, and reporting person disclaims beneficial ownership in the shares held by the partnership except to the extent of his pecuniary interest therein.</footnote>
   <footnote id="F2">Held by Family Limited Partnership 2 in which an LLC controlled by the reporting person is the sole general partner and the reporting person is the sole limited partner.  Reporting person's wife and children own limited partnership interests in Family Limited Partnership 1, and reporting person disclaims beneficial ownership in the shares held by the partnership except to the extent of his pecuniary interest therein.</footnote>
   <footnote id="F3">Grantor retained annuity trust established by reporting person.  Reporting person is trustee.</footnote>
   <footnote id="F4">Not applicable to the exercise of this employee stock option.</footnote>
</footnotes>
<remarks></remarks>    <ownerSignature>
       <signatureName>Bronwen Mantlo for Sidney Taurel, authorization on file</signatureName>
       <signatureDate>2003-11-06</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
