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ELI AND LILLY PHARMACEUTICAL COMPANY

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ELIAND LILLY PHARMACEUTICAL COMPANY

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ELIAND LILLY PHARMACEUTICAL COMPANY

Eliand Lilly Company is an American international company dealing inpharmaceutical products. It was founded on the 10thof May 1876byColonel Eli Lilly, a civil war veteran, and a drug chemist. This wasin Indianapolis, Indiana. It emerged as a pioneer companyspecializing in the production of human insulin from DNA recombinant,a vaccine for polio known as Salk and penicillin.

Lillyinitially started as a small, two-story brick building located at thePearl Street in Indianapolis before proceeding to McCarty Street by1881 due to its expansion that led to it outgrowing the initiallocation. In the same year, it was officially incorporated as EliLilly and Company.

Plantswere the primary source of the company`s raw materials, andproduction was mainly done by hand. Its output and efficiencyimproved much in 1926 with the building of a five-floor plant underthe straight line production concept (Madison 1989).

In1934, two new facilities were opened in McCarty Street with new LillyResearch Laboratories as well as a subsidiary in England with Londonbeing the headquarters and Basingstoke bearing the manufacturingplant. In 1943, Eli Lilly International Corporation was formed tofoster global growth such that by 1948 it had extended its reach to35 countries.

Inthe 1970s and 80s, the company made efforts by producing certaincritical drugs such as Dobutrex for the heart, antibiotics Keflex,Ceclor, Eldisine, Oraflex, and Darvon. In 1971, Lilly purchasedElizabeth Arden Inc, a cosmetic manufacturing company and six yearslater, Cardiac Pacemakers among other acquisitions in the 1980s.

Lillyis a reputable company known for the continuous revolution in thepharmaceutical industry and having had the expertise of manyinternationally recognized figures. By the year 2012, Lilly Companywas named by Working Mothers’ Magazine as one of the best-managedcompanies in the United States.

Bibliography

Madison,James H.ManufacturingPharmaceuticals: EliLilly and Company.Business and Economic History: Business History Conference, 1989.