Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is expanding its research and development center in New York City. The company says the growth will give local academic scientists access to collaborative drug discovery opportunities and create about 50 jobs.
Lilly says the expansion will strengthen its relationships with local academic institutions and medical schools. The drugmaker says the move will also boost discovery and development of medicines in key therapeutic areas including oncology and diabetes.
The move marks Lilly third out-of-state strategic research and development expansion this year. In May, Lilly detailed plans to build a delivery and device innovation center in Cambridge, Massachusetts. Two months later, the company announced an expansion of its San Diego biotechnology center.