EXHIBIT 23.  CONSENT OF INDEPENDENT AUDITORS

            We consent to the incorporation by reference in this Annual
            Report (Form 10-K) of Eli Lilly and Company of our report
            dated February 5, 1996, included in the 1995 Annual Report
            to Shareholders of Eli Lilly and Company.

            We also consent to the incorporation by reference in
            Registration Statement Number 33-29482 on Form S-8 dated
            June 23, 1989, in Registration Statement Number 33-37341 on
            Form S-8 dated October 17, 1990, in Registration Statement
            Number 33-58466 on Form S-8 dated February 17 1993, in
            Registration Statement Number 33-50783 on Form S-8 dated
            October 27, 1993, and in Registration Statement Number 33-
            56141 dated October 24, 1994 of our report dated February 5,
            1996 with respect to the consolidated financial statements
            incorporated by reference, in the Annual Report (Form 10-K)
            of Eli Lilly and Company.


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