EliLilly.com Medicines manufacturer based in Indianapolis, Indiana.

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Eli Lilly and Company

Eli Lilly and Company is a one of the foremost, innovation-driven corporation which produces world class pharmaceutical and healthcare products. It is one of the fastest growing companies and it is dedicated to providing relief to some of the world's urgent medical needs. It is one of the world’s largest corporations. It is a Fortune 500 corporation and is ranked as the 148th largest company in the United States of America. The company is traded publicly in the New York Stock Exchange. It is a member of S&P 500 stock index.

History

Founded in 1876. Eli Lilly and Company has its headquarters in located in Indianapolis, Indiana, USA. Colonel Eli Lilly was the founder of this company. The chairman and CEO is Sidney Taurel while the president of this company is John C. Lechleiter and Derica Rice is the CFO. The company employs 44,500 (2004) people. The revenue of this company is 2006 was $15.560 billion dollars. The major products of this company are Prozac, Humalog, Cialis, Strattera and Darvocet.

Eli Lilly and Company started as a tiny laboratory in Indianapolis in 1876 and grown to be one of the world's largest pharmaceutical companies. Colonel Eli Lilly, a chemist served as a Union officer in the American Civil War. After the war, he acquired a laboratory on Pearl Street in Indianapolis. His pioneering process of gelatin-coated pills helped launch the achievement of the company. In 1889, Eli Lilly died in 1889, his son Josiah K. Lilly Sr. took control of the company. Josiah sent the much needed medicine to support recovery efforts following the 1906 San Francisco earthquake.

In 1919, George Henry Alexander Clowes, a biochemist, joined as director of biochemical research at the company. Clowes started negotiations with researchers who developed insulin at the University of Toronto and was instrumental in launching the first large-scale production of insulin in 1923. With the success of insulin, the company started expanding and gained respect among its peers. After World War II Merthiolate and blood plasma was being manufactured in the company. In 1943, the company began full-scale production of penicillin.

Eli Lilly International Corp. was formed in 1943 to promote business trade abroad. In 1948, Eli Lilly handed over the presidency to his brother Josiah Lilly Jr. In 1952, the first public shares of stock were offered. Eugene N. Beesley was named president in 1953. He was the first non-family member to run the company. The company soon increased its antibiotic production with its patent on erythromycin. In 1954, Elanco Products Co. was formed to produce pharmaceuticals for animals.Lilly bought cosmetic manufacturer Elizabeth Arden for $38 million. Sixteen years later, Lilly he sold the company to Fabergé in 1987 for $657 million. In 1973, Richard Wood was named CEO of Lilly. Eli Lilly and Company produced the maximum number of drugs including antibiotic Keflex in heart drug Dobutrex and Ceclor, which is a oral antibiotic in the 1970s. In 1979; leukemia drug Eldisine, antiarthritic Oraflex; and analgesic Darvon were manufactured.

Lilly make an effort in making medical instruments through the purchase of IVAC Corp. It made vital signs and intravenous fluid infusion monitoring systems. Lilly also acquired Cardiac Pacemaker, a manufacturer of heart pacemakers. The company expected big things and planned to make a profit of $1 billion but suffered a heavy loss of profit when lost exclusive rights to Prozac in 2001. The company is still considered as one of the world’s largest conglomerate and recently acquired a biotechnology company called ICOS in 2007.

Company Products

Prozac was the very first therapy of its kind to treat clinical depression by stimulating the release of serotonin within the human brain. It was the best-selling anti-depressant in pharmaceutical history. This drug inhibits the reuptake of serotonin in the human brain. Cialis (tadalafil) was introduced in the market as a competitor to Pfizer's blockbuster V-iagra for erectile dysfunction. It was developed in partnership with ICOS, a biotechnology company. Gemzar, a drug for the treatment of pancreatic cancer was introduced in 1996. The drug has shown better results compared to chemotherapy in patients suffering from cancer. Another drug called methadone was launched recently. It is an analgesic used frequently in the treatment of opioid and narcotic drug addictions such as heroin, opium. Eli Lilly has developed a vaccine preservative Thiomersal (also called Merthiolate) which is causes susceptible bacteria to autolyze. Eli Lilly manufactures Secobarbital, a barbiturate derivative with anaesthetic, anticonvulsant with sedative and hypnotic properties marketed with the name Seconal. Secobarbital is designated for the treatment of epilepsy and temporary insomnia. Some of the other medicines made by this company include Alimta, Byetta, Symbyax, Xigris and Zyprexa.

Statistics suggest that patients with generalized anxiety disorder (GAD) treated with Cymbalta® (duloxetine HCl), a product of the company, have experienced better ability to perform everyday activities at home, work and in social situations

Leadership

Some eminent people working in this company include Roald Hoffmann, Nobel Prize-winning chemist, Mitch Daniels, current governor of Indiana, Claude H Nash, CEO, ViroPharma and Peter Nicholas and co-founder of Boston Scientific. Some of the people on the board of this pharmaceutical company are George H. W. Bush, former president and vice president of the United States of America, Martin Feldstein, economist, Harvard University, Kenneth Lay, former CEO, Enron (1986-2002),William Verity Jr., former U.S. secretary of Commerce.

Awards

Eli Lilly and Company was named as one of the top 100 companies in the United States by Fortune magazine in 2006 and Barron's Magazine named the company among the top 500 best managed companies in the U.S. Working Mothers magazine named this company one of the top 10 best companies in 2004.

Community service Lilly was the first pharmaceutical company to disclose its educational grant funding to U.S. organizations, which include medical societies, academic centers, patient groups and non-profit institutions.