Eli Lilly (LLY -2.74%) faces declining revenues, as major drugs reach their patent expiration. In this video, health-care analyst David Williamson explains the challenges facing Eli Lilly, and what it can do to confront them. While it has a compelling pipeline, purchasing late-stage or already approved assets would strengthen Eli Lilly's near-term competitiveness. Certainly, there are pitfalls involved with an acquisition, and Eli Lilly's current licensing strategy mitigates some of that risk. Watch and find out if Eli Lilly needs to make a big move, or if staying the course is the better option.