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Eli Lilly and Company

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Eli Lilly and Company
Eli Lilly and Company
source
NameEli Lilly and Company
TypePublic
Traded asNYSE: LLY, S&P 100 component, S&P 500 component
Foundation10 May 1876 in Indianapolis, Indiana, U.S.
FounderColonel Eli Lilly
IndustryPharmaceuticals
Hq locationLilly Corporate Center, Indianapolis, Indiana, U.S.
Key peopleDavid A. Ricks (Chairman & CEO), Anat Ashkenazi (CFO)
ProductsSee list
Revenue▲ US$34.12 billion (2023)
Operating income▲ US$5.79 billion (2023)
Net income▲ US$5.24 billion (2023)
Assets▲ US$64.06 billion (2023)
Equity▲ US$10.99 billion (2023)
Num employees50,000 (2024)

Eli Lilly and Company is a global pharmaceutical corporation headquartered in Indianapolis, Indiana. Founded in 1876 by Colonel Eli Lilly, a Union Army veteran and chemist, it has grown into one of the world's largest and most influential drug manufacturers. The company is renowned for its pioneering work in insulin, antibiotics, and psychiatric medications, and is a major force in contemporary research areas like diabetes, oncology, and immunology.

History

The company was established on May 10, 1876, with Colonel Eli Lilly's commitment to creating high-quality, evidence-based medicine. An early breakthrough came in 1923 with the commercial production of Iletin, the world's first commercially available insulin, developed in collaboration with researchers at the University of Toronto. This established its reputation in endocrinology. During World War II, it was a major producer of penicillin and the blood plasma substitute Albumisol, contributing significantly to the Allied war effort. The post-war era saw expansion into psychiatric drugs with the introduction of Prozac (fluoxetine) in 1987, which revolutionized the treatment of depression and became one of the most prescribed medications in history. Subsequent growth has been driven by strategic acquisitions, including ICOS Corporation in 2007 and Loxo Oncology in 2019, solidifying its presence in biotechnology and precision medicine.

Products and research

The company's portfolio spans several major therapeutic areas. In diabetes care, it markets a range of insulin analogs like Humalog and advanced GLP-1 receptor agonists such as Trulicity and Mounjaro. Its oncology division features drugs like Alimta for lung cancer and Verzenio for breast cancer, with a growing pipeline in targeted therapies. In immunology, Taltz treats conditions like psoriasis and psoriatic arthritis. The neuroscience portfolio includes therapies for migraine (Emgality) and Alzheimer's disease (donanemab), the latter representing a significant research investment. The company operates extensive clinical research programs worldwide and maintains major research facilities at its Lilly Corporate Center headquarters and the Lilly Biotechnology Center in San Diego.

Corporate affairs

The company is a constituent of the Dow Jones Industrial Average, the S&P 500, and the S&P 100. It is led by Chairman and CEO David A. Ricks, with Anat Ashkenazi serving as CFO. Its global operations employ approximately 50,000 people across facilities in over 60 countries, including major manufacturing sites in Puerto Rico, Ireland, and China. The Lilly Endowment, established in 1937 by members of the Lilly family, is a separate philanthropic entity and one of the world's largest private charitable foundations, focusing on community development, education, and theological education, primarily in Indianapolis.

The company has faced significant legal and ethical challenges over its history. It was involved in high-profile litigation related to its antipsychotic medication Zyprexa, settling allegations over marketing practices with the U.S. Department of Justice and several states. It has also been a frequent subject of public and congressional scrutiny over the pricing of its insulin products in the United States, leading to public commitments to cap out-of-pocket costs for some patients. In 2023, it settled a lawsuit regarding its role in the opioid epidemic in several states. More recently, it has contended with issues related to the counterfeit sale of its weight-loss drugs and has engaged in public policy debates concerning Medicare drug price negotiations under the Inflation Reduction Act of 2022.

See also

* List of largest pharmaceutical companies * History of insulin * Pharmaceutical industry in the United States * Lilly Endowment

Category:Pharmaceutical companies of the United States Category:Companies listed on the New York Stock Exchange Category:Companies based in Indianapolis Category:1876 establishments in Indiana