Financial Risk Management at Eli Lilly and Company

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Case Details:

Case Code : FINA016
Case Length : 15 Pages
Period : 2003
Pub. Date : 2003
Teaching Note :Not Available
Organization : Eli Lilly and Company
Industry : Pharmaceutical
Countries : Global

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Introduction Contd...

In an effort to avoid government price controls, the company had launched LillyAnswers, a drug discount program for low-income seniors. The program allowed seniors to get prescription drugs for a small monthly fee, significantly reducing the overall cost for recurring medication needs. In 2002, Lilly recorded revenues of $11,077.5 million and a net income of $2,707.9 million1.

Background Note

Colonel Eli Lilly, pharmacist and Union officer in the Civil War, started Eli Lilly & Company in 1876 with $1,300, to make gelatin-coating pills.

Later, the company began to make gelatin capsules. Lilly began extracting insulin from the pancreases of hogs and cattle in 1923.

Other products launched in the 1920s and 1930s included antiseptic Merthiolate, sedative Seconal, and treatments for pernicious anemia and heart disease.

Lilly researchers isolated the antibiotic erythromycin from a species of mold found in the Philippines in 1952. Lilly also became a major supplier of Salk polio vaccine.

In 1947, Lilly had begun selling diethylstilbestrol (DES), a drug to prevent miscarriages. Lilly enjoyed a 70% share of the DES market by 1971, when researchers noticed that a rare form of cervical cancer afflicted many of the daughters of women who had taken the drug...

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