Lilly Expansion to Fuel 'Next Generation Development'

Posted: Updated:
The lab, set to open in late 2017 or early 2018, will focus on small molecules. The lab, set to open in late 2017 or early 2018, will focus on small molecules.

Eli Lilly and Co. (NYSE: LLY) says its new $70 million interdisciplinary laboratory in Indianapolis is a key piece of its "Next Generation Development" initiative. Vice President of Small Molecule Drug Development Bret Huff says the goal is to develop new medicines in half the time. He says allowing scientists with different backgrounds to more easily work together will have a "quite dramatic" effect on Lilly's pipeline.

The lab, set to open in late 2017 or early 2018, will focus on small molecules, or treatments that are typically taken orally. Huff says that type of drug makes up about half of Lilly's investigational medicines portfolio. The lab marks the latest growth for Lilly in its home city. In 2013, the company unveiled a $400 million expansion plan to increase its capacity for manufacturing insulin.

Huff says the company is continuing its strategy of investing in innovation throughout the United States. Already this year, Lilly has announced research and development expansion plans at its operations in Cambridge, Massachusetts, San Diego and New York City. Huff says the projects all support the "Next Generation Development" process, which he hopes will lead to drugs hitting the trial phase, and, ultimately, the commercial market more quickly.

Earlier this month, Lilly reported third quarter net income of $799.7 million, up from $500.6 million during the same period the previous year. The company said the earnings were boosted by increased revenue thanks in part by the acquisition of Novartis Animal Health and the sales of drugs including Trulicity and Cyramza.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...



  • Most Popular Stories

    • The Kelley School of Business at IU Bloomington is the highest-ranked program in Indiana. (Provided Photo/Indiana University)

      Three Indiana Business Schools Score High Marks

      If your high school student or still “undecided” college student is considering a degree in business, the state of Indiana seems to be a good place to be, and without having to pay out-of-state tuition. Forbes magazine has released its annual listing of The Best Business Schools, specifically those with full-time, residential, M.B.A programs.  

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • (original artist rendering of Merchant's Bancorp HQ) of Carmel)

      Merchants Bancorp to Celebrate New HQ

      Carmel-based Merchants Bancorp (Nasdaq: MBIN) is celebrating Friday the grand opening of its new headquarters. The company says the HQ represents its commitment to long-term and sustainable growth. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.