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Eli Lilly announces that it will establish a drug delivery and device center in Cambridge, Massachusetts.
Eli Lilly announced on May 6, 2015 that it plans to establish a drug delivery and device innovation center in Cambridge, Massachusetts. The new center will allow experts and organizations to explore innovative technologies and make advancements in drug delivery and devices.
"The Lilly Cambridge Innovation Center complements a deliberate push by the company to be an industry leader in providing convenient, reliable drug delivery, and device innovation. Locating in Cambridge is an important strategic move for achieving this goal, as it provides us access to a concentration of high-caliber academic institutions, cutting-edge life science and technology companies, and some of the world's leading talent,” said John C. Lechleiter, PhD, chairman, president, and CEO of Lilly, in a press release.
The center is expected to be completed by the end of 2015, and over a two-year period, the company will hire 30 scientists and engineers. Lilly expects to double its revenue from device-enabled products by the year 2020.
"New drug delivery and device innovation is critically important to Lilly's growing portfolio of potential medicines, particularly in our focus areas of diabetes, neurodegeneration, immunology, and pain. The best therapies of the future will marry breakthrough scientific discovery with customer-friendly devices. That's what will make life better for people who need our medicines and give Lilly a true competitive edge,” said Jan Lundberg, PhD, executive vice-president of science and technology, and president of Lilly Research Laboratories.
Source: Eli Lilly