Born in Indianapolis. Received Ph.C. from University of Michigan in 1914. Married Ruth Marie Brinkmeyer October 15, 1914. They had two children. Served as captain in the Medical Supply Service AEF 1917 to 1919.

Employed in the family firm Eli Lilly Pharmaceutical Company. Held positions of director 1914 to 1923; vice president 1923 to 1944; executive vice president 1944 to 1953; and chairman of the board of directors 1961 to 1966.

Lilly had an extensive library donated to the University of Indiana in 1959. He had 7000 military miniatures. His stamps, gems, guns and paintings were important collections. In twelve years he assembled his collection of gold coins of the world. The Lilly gold collection was assembled exclusively through Stacks after 1951.

Managers of his estate negotiated a deal to donate the gold coins to the Smithsonian in exchange for a tax credit of $5,534,808 based on appraised value. The 6115 pieces included the unique Brasher half-doubloon, a unique 1797 five dollar piece with 16 star obverse, an 1822 five-dollar piece (giving the Smithsonian two of three pieces known) and many rare private and territorial gold pieces.

bio: NCAB 53; WWWA-4