INDIANAPOLIS (WISH) — Eli Lilly & Co. CEO David Ricks on Tuesday said the company is investing heavily in artificial intelligence as well as follow-ons to its early weight-loss drugs.

Ricks’ comments came during an event celebrating the company’s 150th anniversary. Company founder Col. Eli Lilly opened his first laboratory in a small storefront on Pearl Street on May 10, 1876. Tuesday’s anniversary celebration was emceed by former Colts quarterback and Pro Football Hall of Famer Peyton Manning and included remarks from Gov. Mike Braun, Mayor Joe Hogsett and state legislative leaders.

Ricks said “we’re in the early innings” on weight-loss drugs, also called GLP-1 drugs within th...