EXHIBIT 21 - LIST OF SUBSIDIARIES AND AFFILIATES The following are the subsidiaries and affiliated corporations of the Company at December 31, 1995. State or Jurisdiction of Incorporation % or Organization Owned ELI LILLY AND COMPANY Indiana Eli Lilly International Corporation Indiana 100 Eli Lilly Int'l. Corp. - Branch: England 100 Eli Lilly Iran, S.A. Iran 100 ELCO Insurance Company, Ltd. Bermuda 100 Eli Lilly Interamerica, Inc. Indiana 100 Eli Lilly Interamerica, Inc. - Branch: Argentina 100 Eli Lilly Interamerica, Inc. - Branch: Colombia 100 Eli Lilly Interamerica, Inc. - Branch: Peru 100 Eli Lilly Interamerica, Inc. - Branch: Dominican Republic 100 Elanco Quimica Limitada Brazil 100 Eli Lilly do Brasil Limitada Brazil 100 Darilor Sociedad Anonima Uruguay 100 Beimirco Sociedad Anonima Uruguay 100 Eli Lilly Interamerica Inc., y Compania Chile 100 Limitada STC Pharmaceuticals, Inc. Indiana 100 Lilly Ranbaxy Pharmaceuticals L.L.C. Indiana 50 Dista, Inc. Indiana 100 Dista, Inc. - Branch: Colombia 100 Eli Lilly de Centro America, S.A. Guatemala 100 Eli Lilly de Centro America, S.A.-Branch: Panama 100 Eli Lilly de Centro America, Sociedad Costa Rica 100 Anonima Eli Lilly de Centro America, S.A.-Branch: Costa Rica 100 Eli Lilly y Compania de Mexico, S.A. de C.V. Mexico 100 Dista Mexicana, S.A. de C.V. Mexico 100 EPCO, Inc. Indiana 100 DowElanco Indiana 40 Hybritech Incorporated California 100 Hybritech International, Inc. California 100 Hybritech Europe, S.A. Belgium 100 Hybritech Clinical, Inc. California 100 Hybrigenetics Cancer Research, Inc. California 100 Hybritech G.m.b.H. Germany 100 Hybritech International Sales Corp. California 100 Eli Lilly Industries, Inc. Delaware 100 Eli Lilly and Company (Taiwan), Inc. Taiwan 100 CBI Uniforms, Inc. Delaware 50 Control Diabetes Services, Inc. Indiana 100 Integrated Disease Management, Inc. Indiana 100 ELI LILLY AND COMPANY (Cont'd) Indiana PCS Holding Corporation (formerly McKesson Delaware 100 Delaware) Clinical Pharmaceuticals, Inc. Delaware 100 Convenience Office Prescriptions California 100 Integrated Medical Systems, Inc. Colorado 100 IMS-NET of Alabama, Inc. Alabama 100 Alabama Joint Venture Alabama 51 IMS-NET of Arizona, Inc. Arizona 100 Arizona Joint Venture, Limited Arizona 50 IMS-NET of Illinois, Inc. Illinois 100 Illinois Medical Information Network,Inc. Illinois 68 IMS-NET of California, Inc. California 100 IMS-NET of Sacramento, Inc. California 100 IMS-NET of Arkansas, Inc. Arkansas 51 IMS-NET of Central Florida, Inc. Colorado 51 IMS-NET of Colorado, Inc. Colorado 100 IMS-NET of Kansas City, Inc. Colorado 100 Indiana Medical Communication Network LLC Colorado 51 Medical Communication Networks, Inc. California 100 Minnesota Medical Communication Network LLC Colorado 90 LP Holding Corporation (formerly Maryland 100 McKesson Maryland) PCS Health Systems, Inc. Delaware 100 PCS of New York, Inc. New York 100 PCS Services, Inc. Delaware 100 ELCO Management Corporation Delaware 100 Eli Lilly Australia Pty. Limited Australia 100 Eli Lilly Australia Custodian Pty. Limited Bermuda 100 AZA Research Pty. Ltd. Australia 49 Eli Lilly and Company (N.Z.) Limited New Zealand 100 Eli Lilly (NZ)Staff Benefits Custodian New Zealand 100 Limited Integrated Disease Management (NZ) New Zealand 100 Limited Eli Lilly Canada Inc. Canada 100 RxPlus Canada 100 ELCO Dominicana, S.A. Dominican Republic 100 ELCO International Sales Corporation Virgin Islands-US 100 Possess. Eli Lilly Group Limited England 100 Lilly Industries Limited England 100 Dista Products Limited England 100 Eli Lilly and Company Limited England 100 Lilly Research Centre Limited England 100 Elanco Products Limited England 100 Creative Packaging Limited England 100 Greenfield Pharmaceuticals Limited England 100 Lilly Medical Instruments Limited England 100 Eli Lilly Group Pension Trustees Limited England 100 Lilly Deutschland GmbH Germany 100 Eli Lilly (Suisse) S.A. & Co. Germany 100 Beteiligungs-KG Beiersdorf-Lilly GmbH Germany 74.8 Lilly Medizintechnik GmbH Germany 100 Eli Lilly & Co. (Ireland) Limited Ireland 100 Eli Lilly Asia, Inc. Delaware 100 Eli Lilly Asia, Inc. - Branch Hong Kong 100 Eli Lilly Asia, Inc. - Branch Korea 100 Eli Lilly Asia, Inc. - Branch Thailand 100 Indian Branch India 100 China Branch China 100 Vietnam Branch Vietnam 100 Eli Lilly S.A. Switzerland 100 Branch Ireland 100 Eli Lilly Export S.A. Switzerland 100 Puerto Rico - Branch Puerto Rico 100 Egyptian Branch Egypt 100 Egyptian Branch Egypt 100 Russian Branch Russia 100 GEMS Services, S.A. Belgium 100 GEMS Services, S.A. - CC Branch Belgium 100 T. P. Eli Lilly and Elanco D.O.O. Yugoslavia 100 Elanco Trustees Limited Ireland 100 DowElanco, B.V. Netherlands 40 Eli Lilly (Suisse) S.A. Switzerland 100 Iranian Branch Iran 100 Bulgarian Branch Bulgaria 100 Croatian Branch Croatia 100 Czech Republic Branch Czech Republic 100 Estonian Branch Estonia 100 Hungarian Branch Hungary 100 Ivory Coast Branch Ivory Coast 100 Kazakhstan Branch Kazakhstan 100 Lebanon Branch Lebanon 100 Lithuanian Branch Lithuania 100 Pakistani Branch Pakistan 100 Polish Branch Poland 100 Romanian Branch Romania 100 Slovakian Branch Slovakia 100 Slovenian Branch Slovenia 100 Ukraine Branch Ukraine 100 United Arab Emirates Branch U.A.E. 100 Saudi Arabian Branch Saudi Arabia 100 Eli Lilly MHC S.A.R.L. Switzerland 100 Eli Lilly Mauritius Mauritius 99 Ranbaxy Lilly Company India 50 Oldfields Financial Management S.A. Switzerland 100 Eli Lilly Suzhou Pharmaceutical Company China 90 Limited Eli Lilly Nederland B.V. Netherlands 100 Eli Lilly Ges.m.b.H. Austria 100 Lilly Development Centre S.A. Belgium 100 Lilly Services S.A. Belgium 100 Lilly Clinical Operations S.A. Belgium 100 Eli Lilly Benelux, S.A. Belgium 100 Eli Lilly CR s.r.o. Czech Republic 100 Eli Lilly Denmark A/S Denmark 100 Eli Lilly Egypt Egypt 75 Alkan Pharma S.A.E. Egypt 25 OY Eli Lilly Finland Ab Finland 100 Lilly France S.A. France 100 Elsa France, S.A. France 100 Medco Ltd. Hungary 50 Lilly Hungaria KFT Hungary 100 Eli Lilly Nederland B.V. (Cont'd) Netherlands 100 Eli Lilly (Philippines), Incorporated Philippines 100 Eli Lilly Ranbaxy Limited India 50<5 Dista Italia S.r.l. Italy 100 Eli Lilly Italia S.p.A. Italy 100 Eli Lilly Japan K.K. Japan 100 Daewoong Lilly Pharmaceutical Co., Ltd. Korea 50 Eli Lilly Malaysia Sdn Bhd. Malaysia 100 Damsen Trading Limited Malta 51 Eli Lilly Maroc S.a.r.l. Morocco 100 ELCO Production Services B.V. Netherlands 100 Eurobase B.V. Netherlands 55 Eli Lilly Norge A.S. Norway 100 Eli Lilly-Gohar (Private) Limited Pakistan 30 Eli Lilly Polska Sp. z.o.o. (Ltd.) Poland 100 Lilly Grodzisk Sp. z.o.o. Poland 99.8 Vitalia Pharma Sp. Z.o.o. Poland 51 Dista-Produtos Quimicos & Portugal 100 Farmaceuticos,LDA Lilly-Farma, Produtos Farmaceuticos,Lda. Portugal 100 ELVA Joint Laboratory Russia 50 Pharmaserve - Lilly S.A.C.I. Greece 50.9 Eli Lilly Asia Pacific Pte. Ltd. Singapore 100 Eli Lilly (S.A.) (Proprietary) Limited South Africa 100 Glaxo/Eli Lilly Partnership South Africa 50 The Medikredit Joint Venture South Africa 37.6 Partnership Medikredit Pty. Ltd. South Africa 80 Elanco-Valquimica, S.A. Spain 50<51 Derly, S.A. Spain 50<51 Dista, S.A. Spain 50<51 Lilly, S.A. Spain 50<51 Geserco, S.A. Spain 50<51 Hybritech, S.A. Spain 50<51 Eli Lilly Sweden AB Sweden 100 Lilly Ilac Ticaret A.S. Turkey 100 Eli Lilly y Compania de Venezuela, S.A. Venezuela 100 Dista Products & Compania Venezuela Venezuela 100