Eli Lilly and Company engages in the discovery, development, manufacture, and sale of products in pharmaceutical products business segment.
Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by, and named after, Col. Eli Lilly, a pharmaceutical chemist and veteran of the American Civil War.
Lilly’s notable achievements include being the first company to mass-produce the polio vaccine developed by Jonas Salk, and insulin. It was one of the first pharmaceutical companies to produce human insulin using recombinant DNA including Humulin (insulin medication), Humalog (insulin lispro), and the first approved biosimilar insulin product in the US, Basaglar (insulin glargine).
Lilly is currently the largest manufacturer of psychiatric medications and produces Prozac (fluoxetine), Dolophine (methadone), Cymbalta (duloxetine), and Zyprexa (olanzapine).
The company is ranked 123rd on the 2019 Fortune 500. It is ranked 221st on the Forbes Global 2000 list of the largest public companies in the world and 252nd on the Forbes list of America’s Best Employers.
Eli Lilly is a full member of the Pharmaceutical Research and Manufacturers of America and the European Federation of Pharmaceutical Industries and Associations (EFPIA).
As of 1997, it was the largest corporation and the largest charitable benefactor in Indiana.
Eli Lilly’s success can be ascribed in part to its promising medical pipeline and strategic acquisitions.
Eli Lilly will spend approximately $2.4 billion acquiring Dice Therapeutics to create more drugs for combating autoimmune diseases.
The next step will be a trial with 500 patients included. Eli Lilly and Co is planning to replicate the results and continue to research the drug’s effectiveness.