Eli Lily

Topics: Health care, Corporate governance, Eli Lilly and Company Pages: 4 (1099 words) Published: April 28, 2014
Eli Lilly was founded in 1876 by Colonel Eli Lilly, deriving its famous name. The vision that Eli Lilly prides itself in is simple; to make a significant contribution to humanity by improving global health in the 21st century. The company has pioneered medical breakthroughs like human insulin, the polio vaccine, and many other breakthrough therapies. They have also set a high standard for giving back to local communities. They are passionate about their company mission statement. “We are passionate about building on this precedent in our continued quest to make life better for individuals, communities, and the world around us. We make medicines that help people live longer, healthier, more active lives” (Lilly.com). The company prides itself in its core ethical values which are to promote integrity, excellence, and respect for people. Collaborations between physicians or medical researchers and bio-pharmaceutical companies can benefit society by promoting the discovery and development of new medications that improve individual and public health. However, there are concerns that these relationships may create conflicts of interest due to the risk of undue influence on professional judgments thereby potentially jeopardizing the integrity of sci¬entific investigations and the quality of patient care. Lilly makes payments to health care providers only for legitimate, reasonable, and necessary services and in amounts that are no more than the fair market value for the services performed. Lilly believes policies that restrict the ability of innovators from engaging directly with medical professionals are an impediment to advancing medical knowledge and patient care. Lilly is committed to the highest standards of corporate conduct in all of our business dealings globally. Lilly maintains an effective ethics and compliance program designed to meet external requirements, guided by the company’s core values and code of business conduct, The Red Book. It...
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