Eli Lilly is tripling the number of research scientists it employs in Singapore as it invests $150 million to boost its R&D operations there over the next five years. Lilly plans to concentrate much of that new brainpower on cancer and type II diabetes therapies. It is also renaming its facilities the Lilly-Singapore Centre for Drug Discovery. Singapore has twice made FierceBiotech's annual list of five regions targeting biotech business.
"We realize that in a number of years, probably not too long from now, the major markets will probably be in Asia, even Latin America," said Dr William Chin, Vice President, Discovery Research & Clinical Investigation, Lilly Research Laboratories. "When you think about what a global company like Eli Lilly must do, we must understand those markets. And so, by being closer to our patients in the region, we'll be better suited to deal with those markets."
- here's the report on Lilly's expansion from Channel News Asia