Lilly invests £5.4M in R&D hub in U.K.

Eli Lilly ($LLY) has opened a new building at its Erl Wood R&D center in Surrey, U.K., to house early-stage research, PharmaTimes reported. The U.S. drugmaker has invested £5.4 million ($8.7 million) in the facilities, which are now part of its second-largest research and development operation outside of the company's home city of Indianapolis. Lilly CEO John Lechleiter has been betting on the company's internal R&D operations to produce new drugs that can replace old ones which face competition from generics. Article