Lilly Completes San Diego Expansion
(photo courtesy Eli Lilly and Co.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowSAN DIEGO, Calif. - Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has completed the $90 million expansion of its Biotechnology Center in San Diego. Lilly says the new space will help foster and accelerate the discover of medicines in immunology, diabetes, oncology and neurodegeneration.
Lilly Chief Executive Officer David Ricks says the expansion is part of the company’s recently-announced $850 million commitment to its U.S. operations. The expansion includes a new technologically-advanced laboratory and 180,000 square-feet of additional working space, a 145 percent increase from the facility’s former configuration.
Lilly says the new space will create a closer partnership among experts in biotechnology, discovery chemistry, and research technologies within the company, as well as external collaborations.
"Investing in drug discovery and development is critical to maintaining an ecosystem that encourages and promotes innovation. Our expansion in San Diego is a prime example of investing in a research success story," said Jan Lundberg, executive vice president for science and technology and president of Lilly Research Laboratories. "Expanding our presence in San Diego will not only help us discover and deliver innovative medicines faster, but will also help us achieve our goal of launching 20 new medicines in 10 years."
Lilly established the Biotechnology Center in 2009 after acquiring Applied Molecular Evolution Inc. in 2004.