Wednesday, 20 January 2010 10:27

Eli Lilly and Company

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Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States. The company was founded in 1876 by a pharmaceutical chemist, Eli Lilly, after whom the company was ultimately named.

 

Among other specialties, Lilly was the first company to mass-produce penicillin and today is the world's largest manufacturer and distributor of psychiatric medications. In January 2009, the largest criminal fine in U.S. history was imposed on Lilly for illegal marketing of its best-selling product, the atypical antipsychotic medication, Zyprexa.

Company profile

Eli Lilly and Company's global headquarters, in Indianapolis, Indiana, United States

A Fortune 500 corporation, Eli Lilly had revenues of $20 billion in 2008, making it the 148th largest company in the United States and the 10th largest corporation by global pharmaceutical sales. The company is publicly traded on the New York Stock Exchange and is a member of the S&P 500 stock index. Eli Lilly was one of the Nifty Fifty stocks that propelled the mid 20th century bull market.

Eli Lilly is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA).

History

Colonel Eli Lilly, a pharmacist and a veteran of the American Civil War, began formulating plans to create a medical wholesale company while working in partnership at a drug store named Binford & Lilly. His wife's death from malaria a few years earlier influenced him to see a need for quality and effective drugs to be made available on a large scale. In 1873, Lilly returned to his hometown of Indianapolis and opened a store with a partner to begin working towards his goal, Johnson & Lilly. He slowly saved up enough money to open a store of his own.

A photo of Lilly's first laboratory building. Eli Lilly and son Josiah K. Lilly, Sr. are on the left side of the doorway.

Lilly’s Indianapolis store started in 1876 with only three employees, including his 14-year-old son Josiah, and $1,400 in working capital. His first innovation was gelatin-coating for pills and capsules. Following on his experience of low-quality medicines used in the Civil War, Lilly committed himself to producing only high-quality prescription drugs, in contrast to the common and often ineffective patent medicines of the day. His products, which worked as advertised and gained a reputation for quality, began to become popular in the city. In his first year of business, sales reached $4,470 and by 1879, they had grown to $48,000. He hired his brother, James, to take over sales in 1878. Other family members were also employed by the growing company, his cousin Evan Lilly was hired as a bookkeeper; his grandsons Eli and Josiah were hired to run errands and other odd jobs. In 1881 he formally incorporated the company, naming it Eli Lilly and Company. By the late 1880s he was one of the area's leading businessmen with over one-hundred employees and $200,000 in annual sales.

 

Last modified on Wednesday, 20 January 2010 11:01
ODISHAMEDICAL.COM

ODISHAMEDICAL.COM

What is Telemedicine?

Here is the definition I have used over the past ten years or so to describe Telemedicine:"Telemedicine is the ability to provide interactive healthcare utilizing modern technology and telecommunications."

Basically, Telemedicine allows patients to visit with physicians live over video for immediate care or capture video/still images and patient data are stored and sent to physicians for diagnosis and follow-up treatment at a later time. Whether you live in the center of a Metro City or deep in the Remote Village, Telemedicine is an invaluable tool in Healthcare.

Here's an example of how Telemedicine works everyday. Say you have a horrible sore throat and visit your healthcare provider (could be a general practice physician, nurse practitioner, or unlicensed health worker in a village depending where you live), who does an examination and is concerned with what he sees. Your provider recommends a referral to an ENT specialist for a follow up diagnosis and treatment plan. Well, instead of traveling to the nearest specialist, which depending where you live could be anywhere from a 45-minute drive or an 18-hour ride, your provider connects you directly to the ENT specialist via Telemedicine.

Here are some of the major benefits of a Telemedicine Consultation:

The specialist actually hears your medical history and current condition directly from you and your provider instead of the specialist receiving a dictated note in the mail.

With the use of ENT medical peripherals such as a nasopharyngoscope, your provider can pass this medical peripheral into your nasal passage which will allow your provider and the ENT specialist simultaneous crystal clear video of your throat and vocal cords. The specialist may ask you to cough, pronounce letters, etc. in order to get the best outcome for the diagnosis.

The specialist can diagnose and recommend treatment immediately.

Your provider has the opportunity throughout the examination to ask questions and learn from each and every consultation. The continual education of your provider via medical consultations is an immeasurable benefit to all his patients.

Telemedicine Usage Models

Real-Time

This is the most common use in Telemedicine. Like the example above, live video allows the provider, patient and specialist to all communicate together to achieve the best outcome for the patient.

In or outpatient specialty consultation

Physician supervision of non-MD clinician

Generally require higher bandwidths (minimum 256kb)

Store and Forward (asynchronous)

Used when both health providers are not available or not required at the same time. The provider's voice or text dictation on the patient's history, current affliction including pictures and/or video, radiology images, etc., are attached for diagnosis. This record is either emailed or placed on a server for the specialist's access. The specialist then follows up with his diagnosis and treatment plan.

Teleradiology

Can be done over low or high bandwidth

Images scanned, direct capture, or digital camera

Other specialties consist of dermatology, ophthalmology, pathology

Home Health Telemedicine

When a patient is in the hospital and he is placed under general observation after a surgery or other medical procedure, the hospital is usually losing a valuable bed and the patient would rather not be there as well. Home health allows the remote observation and care of a patient. Home health equipment consists of vital signs capture, video conferencing capabilities, and patient stats can be reviewed and alarms can be set from the hospital nurse's station, depending on the specific home health device.

Usually low bandwidth analog Plain Old Telephone System (POTS). Some newer systems do support higher bandwidth capabilities.

Disease management, post-hospital care, assisted living, etc.

Summary of Benefits of Telemedicine:

To Rural Physicians and clinics (spoke sites) Receive education from the specialist/provider

Better health outcome for their patients

Enhanced community confidence in local healthcare

Attend continuing medical education courses from their clinic

To Patients

Loved ones remain in their community with family support

Cost savings from not having to travel extensively

Immediate urgent care

Confidentiality of specialty examination or visit (Because the patient visits the general practice doctor, he can be seen for any specialty care without anyone else knowing)

Patient education courses (nutrition, oncology, etc.)

Properly stabilize patient prior to transport

Early Diagnosis prior to escalated medical episode

Rural Patient's Community

Dollars follow the patient

Patients that routinely travel to visit doctors in large urban areas tend to purchase their goods and services from those cities, Telemedicine keeps those dollars local.

To Telemedicine Providers (hub sites)

Expand patient outreach

Major surgical procedures resulting from the initial telemedicine consultation

Reduction in ER visits

Promotion of Hospital

Charge tuition for clinician education courses (CME, CNE, etc.)

How can we give any hospital or clinic immediate access to a vast amount of medical experts, healthcare education/information, and support from other physicians.

How can we take all these resources and share them immediately and effectively with any hospital or clinic in the world?

We can use Telemedicine!

 

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