Eli Lilly and Company was founded in 1876 by Colonel Eli Lilly and grew into a major pharmaceutical company by market capitalization.
Colonel Eli Lilly, a former Union Army officer and pharmaceutical chemist, established the company in Indianapolis, Indiana, in May 1876. He emphasized producing medicines with consistent quality, an important concern in an era when drug strength and purity could vary substantially.
The company became known for manufacturing standardized pharmaceutical products and later developed major medicines in areas including diabetes, cancer, and neuroscience. Its history includes an important role in the mass production of insulin during the early twentieth century.
Eli Lilly and Company is often confused with the individual founder’s name or with Lilly Endowment, a separate philanthropic organization. The publicly traded drugmaker uses the corporate name Eli Lilly and Company and is commonly shortened to Lilly.