Josiah (J. K.), Colonel Lilly's son and Eli and Joe's father, inherited the company after Colonel Lilly died and became its president in 1898. At the time of Colonel Lilly's death the company had a product line of 2,005 items and annual sales of more than $300,000 ($ in 2015 chained dollars). Colonel Lilly was a pioneer in the modern pharmaceutical industry, with many of his early innovations later becoming standard practice. His ethical reforms in a trade that was marked by outlandish claims of miracle medicines began a period of rapid advancement in the development of medicinal drugs. J. K. Lilly continued to advocate for federal regulation on medicines. Under J. K.'s leadership, the company introduced scientific management concepts, organized the company's research department, increased its sales force, and began international distribution of its products. In addition J. K. oversaw a large expansion of the company. By 1905 the company reached sales of $1 million ($ in 2015 chained dollars).