Lilly keeps it local with $52 million investment

6 July 2017

Eli Lilly (NYSE: LLY) announced in March that it would invest $850 million in US operations this year, and a new collaboration suggests a desire to fund research not just in the USA, but in the company’s home state.

The pharma major is to provide up to $52 million to fund life science research at Indiana’s Purdue University over a period of five years.

Mitch Daniels, the university's president, said: “Purdue has enjoyed a long history of engagement with Lilly. Now Lilly and Purdue University are entering into a new level of collaboration that will move us forward in areas core to both institutions. Our investment on campus in the life sciences announced in 2016 is leading to just the types of impact we hoped to effect."

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