What is Eli Lilly? - Products, Services and History

Table of Contents

 

1. What is Eli Lilly?

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 Colonel Eli Lilly, a pharmaceutical chemist.

Eli Lilly and Company is known for its clinical depression drugs Prozac (fluoxetine) (1986), Cymbalta (duloxetine) (2004), and its antipsychotic medication Zyprexa (1996), although its primary revenue drivers are the diabetes drugs Humalog (insulin lispro) (1996) and Trulicity (dulaglutide).

The company’s achievements include being the first company to mass-produce the polio vaccine developed by Jonas Salk. It was one of the first pharmaceutical companies to produce human recombinant DNA including Humulin, Humalog, and the first approved insulin product in the US, Basaglar.

In 2009, Lilly pleaded guilty for illegally marketing Zyprexa and agreed to pay a $1.415 billion penalty that included a criminal fine of $515 million. As of 1997, it was the largest corporation and the largest charitable benefactor in Indiana. In 2019, the company was ranked 123rd on the 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. Lilly is a full member of the Pharmaceutical Research and Manufacturers of America.

 

 

2. Eli Lilly: Products and Services

Eli Lilly is a pharmaceutical company that focuses on neuroscience, cardiometabolic, cancer, and immunology. Some of its key products and services are:

• Verzenio: A drug for the treatment of advanced or metastatic breast cancer.
• Trulicity: A once-weekly injection for adults with type 2 diabetes.
• Humalog and Humulin: Insulin products for people with diabetes.
• Taltz and Olumiant: Drugs for the treatment of moderate to severe plaque psoriasis and active rheumatoid arthritis.
• Zeposia: A drug for the treatment of relapsing forms of multiple sclerosis.
• Research and development: Eli Lilly invests in innovation and collaboration to discover and develop new medicines for various diseases .

 

 

3. Eli Lilly: History

• Eli Lilly and Company is a pharmaceutical company that was founded in 1876 by Colonel Eli Lilly, a Civil War veteran and a pharmaceutical chemist. Some of the highlights of its history are:

  • Innovation: Lilly was one of the first companies to mass-produce the polio vaccine, human insulin, and recombinant DNA products. It also introduced several breakthrough drugs such as Prozac, Zyprexa, and Cymbalta.
  • Collaboration: Lilly has a long history of collaboration with research scientists, universities, and other companies. It has also established several philanthropic and social initiatives, such as the Lilly Foundation and the Lilly MDR-TB Partnership.
  • Controversy: Lilly has faced some legal and ethical challenges, such as the Zyprexa scandal in 2009, when it pleaded guilty for illegally marketing the drug and paid a $1.415 billion penalty. It has also been criticized for its pricing and patent practices, especially for its diabetes drugs.
  • Globalization: Lilly has expanded its operations and markets to many countries around the world. It has research and production facilities in 18 countries, and its products are sold in 159 countries. It is ranked among the largest public companies in the world by Forbes

 

 

4. Eli Lilly: Competitors

 

 Some of the main competitors of Eli Lilly and Company are:

• Johnson & Johnson (JNJ): A multinational corporation that produces medical devices, pharmaceuticals, and consumer goods. It is the largest healthcare company in the world by revenue.
• Merck & Co., Inc. (MRK): A global biopharmaceutical company that develops, manufactures, and markets medicines, vaccines, and animal health products. It is one of the largest pharmaceutical companies in the world by revenue and market capitalization.
• Pfizer (PFE): A multinational pharmaceutical corporation that researches, develops, and sells medicines and vaccines for various therapeutic areas. It is the world’s second-largest pharmaceutical company by revenue and one of the most valuable brands in the world.
• Novo Nordisk A/S (NVO): A Danish multinational pharmaceutical company that specializes in diabetes care, obesity treatment, and biopharmaceuticals. It is the world’s largest producer of insulin and one of the leading companies in the global diabetes market.
• AstraZeneca (AZN): A British-Swedish multinational pharmaceutical and biotechnology company that focuses on oncology, cardiovascular, renal, metabolism, and respiratory diseases. It is one of the world’s largest pharmaceutical companies by revenue and has a strong presence in emerging markets.

These are some of the companies that compete with Eli Lilly and Company in the global healthcare industry. They have different strengths, weaknesses, opportunities, and threats that affect their performance and strategies.

 

 

5. Eli Lilly: CEO

 

According to the web search results, the current CEO of Eli Lilly and Company is David A. Ricks. He was appointed in January 2017 and has a tenure of 6.83 years. He also serves as the Chairman of the company. His total yearly compensation is $21.40M, comprised of 7% salary and 93% bonuses, including company stock and options. He directly owns 0.063% of the company’s shares, worth $333.70M. He is also a member of the Pharmaceutical Research and Manufacturers of America and the European Federation of Pharmaceutical Industries and Associations.

 

 

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