Eli Lilly and Company completed a $90 million expansion of its Biotechnology Center in San Diego, California. The company plans to invest in research and development.
According to company officials, the center features a new technologically-advanced laboratory and an additional 180,000 square feet of working space, which is an increase of 145 percent compared to the former facility.
In addition to the center's established presence in preclinical and clinical immunology research, the new space allows for closer partnership between Lilly experts in biotechnology, discovery chemistry and research technologies while also fostering external collaborations.
“ Lilly's new space will help foster and accelerate the discovery of medicines within the company's core therapeutic areas of immunology, diabetes, oncology and neurodegeneration, as well as the emerging area of pain,” company officials explained.
"This year we announced a commitment to invest $850 million in our U.S. operations based on our potential for growth and the company's long-standing investment in the U.S. market," said David A. Ricks, Lilly's chairman, president and chief executive officer. "Today, as part of that commitment, we are pleased to say our research footprint in San Diego has been expanded."
"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, Ph.D., Executive Vice President for Science and Technology & 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."
"Congratulations to Lilly on the expansion of its new Biotechnology Center, which will double its drug research and development in San Diego, create high-quality jobs, and encourage collaboration on groundbreaking therapies that improve patient care and lower costs," said Representative Scott Peters. "San Diego's life sciences industry is changing the face of medicine and companies like Lilly are driving this innovation."
The company said it plans an extensive investment in its U.S. Research and Development. Nearly $250 million of Lilly's $850 million capital investments will be dedicated to supporting its research and development centers around the U.S., including the center in San Diego, in 2017. Lilly's other U.S. research centers are located in Indianapolis, Indiana; Cambridge, Massachusetts; New York, New York; and Philadelphia, Pennsylvania.
In 2017, Lilly plans to spend approximately $5 billion on global R&D, nearly $4 billion of which will be invested in U.S. based programs, including projects with many of California's leading biomedical research institutions.
"This investment doesn't come without risk. America's biopharmaceutical leadership is driven by a free-market economy that rewards innovation," said Ricks. "Today, there are multiple public policy threats to our business that would discourage or reduce our investment in the U.S. and the state. We are committed to working with policymakers and stakeholders to ensure our efforts to deliver new innovative medicines to patients are not threatened."
SOURCE: Eli Lilly and Company