Eli Lilly and announced that its board has initiated a share buyback plan on Monday, May 3rd 2021, which permits the company to buyback $5,000,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.