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In late May 1922, the University of Toronto and Eli Lilly worked out an agreement that gave Eli Lilly the exclusive rights to manufacture and distribute insulin (free of charge) to selected physicians and hospitals (1, 48, 49). After one year, the company was free to charge for insulin and patent any innovations on their product (see also below). A very close working relationship between the Toronto team and scientists at Eli Lilly ensued (50, 51). The rationale provided by the board of governors of the University of Toronto for favoring one company was that concentrated effort by one firm would be the most effective solution to overcoming the supply problem. Heading off anticipated criticism of being “unethical or unfair or as in any way prejudicial to the free manufacture of insulin” (1), they also stated that they would “give other firms, as well as hospitals and other non-commercial concerns, every chance to do the best they can by publishing the details of the methods … in full at an early date” (1, 48, 49). With the resources and advances Lilly applied to the manufacture of their pork “Isletin” by late 1922, they were starting to overcome the drastic shortage. Further modifications overcame several potency and stability issues, and, by early 1923, Lilly was able to manufacture sufficient high-quality insulin for the needs of the entire world (1, 48, 49). By late 1922, the Connaught Laboratories had updated their equipment and production facilities and also begun to overcome their initial production challenges (1, 47, 48). The University of Toronto also granted complete British patent rights to the insulin extract to the Medical Research Council of Great Britain (48), and European rights to the nonprofit Nordisk Insulin Laboratory, facilitated by the Nobel laureate August Krogh of the University of Copenhagen and his associate, H.C. Hagedorn, later merging with Novo to become the present-day insulin manufacturing company Novo Nordisk (48).