Lilly 's son and two grandsons , as well as the Lilly company , continued the philanthropic efforts that Lilly practiced . Eli Lilly and Company played an important role in delivering medicine to the victims of the devastating 1906 San Francisco earthquake . In 1937 Lilly 's son and grandsons established the Lilly Endowment , which became the largest philanthropic endowment in the world in terms of assets and charitable giving in 1998 . ( Other endowments have since surpassed it , but it still remains among the top ten . ) Lilly 's firm grew into one of the largest pharmaceutical companies in the world . Under the leadership of Lilly 's son , Josiah ( J. K. ) and two grandsons , Eli and Joe , it developed many new innovations , including the pioneering and development of insulin during the 1920s , the mass production of penicillin during the 1940s , and the promotion of advancements in mass-produced medicines . Innovation continued at the company after it was made a publicly traded corporation in 1952 ; it developed Humulin , Merthiolate , Prozac , and many other medicines . According to Forbes , Eli Lilly and Company ranked as the 243rd largest company in the world in 2016 , with sales of $ 20 billion and a market value of $ 86 billion ( USD ) . It is the largest corporation and the largest charitable benefactor in Indiana
1906 San Francisco earthquake
1906 San Francisco earthquake
Eli Lilly