How much additional money did Eli Lilly plan to invest in its Research Triangle Park facility?

This began as a $2.9 million project partially funded through a United States Economic Development Administration (EDA) grant. There are over 79,000 square feet of space, with Touchstone Research Laboratories as the major tenant, and there is additional land to be developed in the park.
- Building I completed 1990
- Building II completed 1993
- Building III completed 2001
- Building IV contracted 2006
- Expansion for additional production is ongoing.

Planners originally estimated that the new facility would $230 million, but later lowered their projection to $190 million.

Lilly to invest $442 million in new biopharma facility in Ireland
Monday, February 27, 2012
Eli Lilly is investing $442 million in a brand-new biopharmaceutical commercialization and manufacturing facility at its Kinsale campus in Cork, Ireland, according to Richard Bruton TD, minister for jobs, enterprise and innovation.
The investment will expand the Kinsale site’s existing biopharmaceutical mission with the establishment of an additional world-class commercialization and manufacturing facility.
The new facility, when fully operational, will require up to 200 highly skilled employees. In addition, 300 construction jobs will be created on the site. IDA Ireland worked closely with Eli Lilly to attract this investment to Ireland.
The planned 240,000-square-foot facility will enhance the company’s ability to bring treatments for illnesses such as cancer and diabetes to patients worldwide. This is the second large investment Lilly has made at its Kinsale site in recent years. In 2006, the company announced a $400 million investment in its first biopharmaceutical manufacturing and new-product commercialization facility at its Kinsale campus, which came on-stream in 2010.
“The Action Plan for Jobs, which the government published recently, outlined a range of measures which we will take in 2012 to target the high-end manufacturing and health/life sciences sectors for further growth and also to deepen and develop the impact of multinational companies in Ireland,” said Minister Bruton.
Ed Canary, general manager of the Kinsale site, added, “This investment is an endorsement of the Lilly Kinsale site’s success in developing a biopharmaceutical business in recent years and demonstrates our ability to rise to that challenge. This is in no small part due to the site’s excellent performance record, the talent of the workforce, and the support from IDA Ireland.”

INDIANAPOLIS - Eli Lilly and Company plans to invest $140 million to expand its insulin manufacturing operations in Indianapolis.
The 80,000-square-foot expansion at the Lilly Technology Center will allow the drugmaker to grow its manufacturing of insulin cartridges to meet the growing demand for diabetes care in the country.
"Last year, diabetes affected more than 350 million people worldwide. By 2030, that figure is expected to rise to over 550 million people," said Enrique Conterno, president of Lilly Diabetes. "Unfortunately, by 2050, it is expected, if trends were to continue, it is expected that in the U.S., one out of every three U.S. adults will have diabetes."
Lilly's expansion is one of the largest economic development investments in both the city and state in 2012, and is the first increase in the company's Indianapolis manufacturing operations in more than two decades.
"Lilly is the premier pharmaceutical company in the world, and their commitment to research keeps them ahead of the medical curve," Lt. Gov. Becky Skillman said in a news release. "This expansion is just further proof that Indiana is a fiscally strong state, and we thank Lilly for their confidence in our state and our people."
Construction will begin immediately. The expansion is expected to be finished by March 2014.

Initial projections show that the new building — a $50 million investment — will be constructed to hold approximately 780 employees and include underground parking. The site, which is expected to be built in three years, would also allow for U.S. Venture to expand as needed in the future.

Eli Lilly and Company Expands Its Biotechnology Center In San Diego, California
According to the firm, set to be completed in 2016, the expansion will feature an additional 175,000 square feet of working space and is expected to generate up to 130 potential new job openings, yielding a 140 percent increase in the center's space and 70 percent increase in its staff.
"San Diego has been an important location for Lilly laboratories for more than a decade. The city is a global hub for biomedical research and talent, where collaboration between academic institutions and biotechnology thrives," said Thomas F. Bumol, Ph.D., senior vice president, biotechnology and immunology research at Lilly. "We want to build on our success in San Diego through expanded collaborations that ultimately allow us to bring better medicines to people faster than ever before."
“Importantly, the space will allow for closer collaboration among Lilly experts in discovery chemistry and research technologies and biotechnology, which will help accelerate the discovery of new medicines within the company's core therapeutic areas, including immunology,” company officials said. “The expansion also signifies Lilly's investment in obtaining additional top scientific talent. Specifically, Lilly will be recruiting experts in drug discovery in the disciplines of biotechnology, chemistry and immunology and in immunological clinical development."
"The molecular discovery capabilities at the Lilly Biotechnology Center represent state of the art platforms to enable pharmaceutical innovation across the continuum of small and large molecules," said Alan D. Palkowitz, Ph.D., vice president, discovery chemistry research & technologies at Lilly. "The expanded investment will further Lilly's leadership in these core areas and catalyze future discoveries."
Lilly initially entered the San Diego area in 2004 by acquiring Applied Molecular Evolution, Inc., which now operates as a subsidiary of the company. The Lilly Biotechnology Center was officially established in 2009 and is located near the University of California, San Diego, among other prominent biomedical research institutions.
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• AstraZeneca acquired a high-tech biologics bulk manufacturing facility in Boulder, Colorado, from Amgen in September 2015 that it is refurbishing. The site is expected to be operational in late 2017. The purchase followed announcements that AstraZeneca is investing $285 million in a biologics facility in Sweden and expanding its Frederick, Maryland, site. The new Swedish facility will focus on filling and packaging of protein therapeutics and, from 2018, supplying medicines for the clinical trial programs of AZ and its MedImmune subsidiary.
• Pfizer is spending $100 million to upgrade its biologics plant in Ireland.
Genzyme is investing $80 million at its recently approved facility in Framingham, MA, adding more downstream processing capabilities for Fabrazyme, its treatment for Fabry disease.
• Eli Lilly is completing a $450 million biologics facility in Ireland. In 2013, the company also announced nearly $1 billion in planned plant expansions for the production of its insulin products, including API and cartridge manufacturing capabilities.
• Amgen opened in August 2015 a $300 million facility including a syringe filling facility and a cold chain warehouse in Singapore. The facility uses disposable technology, continuous processing and real-time analytics, has a replicable and flexible modular design with a small footprint for reduced energy and water consumption and waste generation. It was also constructed in half the time required for a conventional plant, according to the company.
• Baxter opened its first biologics facility in Asia in 2014. The $370 million facility in Singapore produces ADVATE and will also manufacture treatments for hemophilia B once a second expansion suite opens in 2017.
• Roche announced in 2013 that it is investing $880 million in biologics manufacturing capabilities, including an ADC manufacturing plant in Switzerland and expansion/upgrades of sites in California and Germany. Its Japan-based subsidiary Chugai Pharma is also investing $310 million in antibody production capacity at a plant in Tokyo. An additional $125M investment in an expansion of a Genentech fill/finish facility in Oregon was announced in March 2015.
Smaller biotech firms have not been idle, either:
• Regeneron will be investing an additional $350 million on top of its initial $300 million investment to create a pharmaceutical plant at a former Dell computer manufacturing site in Ireland.

Eli Lilly and Company (LLY) Research Laboratory Installs Protedyne's BioCube System At Indianapolis, Indiana Facility
10/19/2005 5:12:50 PM
WINDSOR, Conn.--(BUSINESS WIRE)--April 14, 2005--Protedyne Corporation, a leading laboratory automation supplier, today announced that it has completed the installation and site acceptance of its BioCube(TM) System LX2000 in Eli Lilly's Indianapolis facility. The Lilly research facility will use the BioCube System to perform compound solubilization for drug discovery research.
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21 Nov 2014 Elanco Announces $100 million Investment in Augusta
Elanco Announces Major Capital Expansion at Augusta Technology Center
Elanco, the animal health division of Eli Lilly and Company, announced today a $100,000,000 investment in infrastructure and manufacturing enhancements at the Augusta Technology Center, creating 100 new jobs over the next three years. Improvements are already underway at the site.
The plant is currently operating near maximum capacity, prompting Elanco to invest in the capital expansion necessary to meet customers’ growing demand. More than 250 people are currently employed at Elanco’s manufacturing facility in Augusta, producing animal health products used by farmers around the globe. Elanco anticipates that the number of new jobs ultimately created as a result of the expansion will be contingent on new market approvals for Elanco products.
The Augusta plant and its employees play an important role at Elanco and for the company’s customers. VP of Manufacturing at Elanco, Steve Jenison, said, “An investment of this size is a testament to the performance of our operations in Augusta. We have every confidence in our employees at the site and the value our products bring to our customers.”
General Manager at the Augusta Technology Center, Kevin Trivett, said being located in Augusta is an asset to the company’s operations, saying “We feel very fortunate to have partnered with a community whose workforce is highly skilled, engaged and committed to our vision of meeting a global demand for more of our animal health products.”
Henry Ingram, Chairman of the Augusta Economic Development Authority, said, “The investment of $100,000,000 is significant for our community and soon, more of our neighbors will be employed, thanks to Elanco’s investment in Augusta.”
Mayor Deke Copenhaver also commended the company’s decision to expand its presence in Augusta. “With their yearly efforts to help break the cycle of hunger locally as well as in 100 other communities worldwide, Elanco is a fine example of what it means to be a community partner. I would like to personally thank the Elanco team for this investment and for all that the company does to help make our city a great place.”
As an OSHA Voluntary Protection Program (VPP) “Star” worksite, the Augusta Technology Center is recognized for its comprehensive safety and health management programs. From a community reinvestment perspective, Elanco provides opportunities for employees to volunteer in the community and supports local sustainability initiatives.

Pence Announces Public-Private Bioscience Venture
Governor Mike Pence says the creation of a new Biosciences Research Institute announced Thursday will create jobs, attract investment and talent from around the globe and help retain the state’s top graduates. It’s being called the first industry-led life sciences research institute in the country.
The Indiana Biosciences Research Institute is a collaborative effort between private companies such as Eli Lilly, Cook Group and Dow AgroSciences and the state’s research universities – IU, Purdue and Notre Dame. By pooling resources and attracting new researchers to Indiana, the aim of the institute is to make the transition from the lab to the marketplace easier.
BioCrossroads President David Johnson, who sits on the board of directors for the new institute, says part of its mission is to capture the dollars being spent outside the state by Indiana life sciences companies. He says retaining even five percent of that business will be a huge boon to the state.
“That’s $250 million to $300 million a year coming into Indiana’s economy,” Johnson said, “and that’s real money and that is business and that is, in fact, exactly what the governor is talking about – putting Hoosiers to work.”
Gov. Mike Pence says the value of the institute goes beyond the economic benefit for Indiana.
“Health issues that as we all know and we say, with heavy hearts, impacts too many Hoosiers – obesity, diabetes and heart disease…we’re going to come up with the breakthroughs here that are going to benefit Hoosiers and deal with some of the maladies that our own citizens deal with,” Pence said.
The General Assembly appropriated $25 million to get the institute up and running initially. It will ultimately cost $360 million to fully create and Johnson says the bulk of that funding will come from private investment and donations.

A team of developers led by Longfellow Real Estate Partners from Boston, Duke University and Measurement Incorporated President & CEO Hank Scherich unveiled formal plans Wednesday, October 1, 2014 for the $400 – $500 million Durham Innovation District (Durham.ID). The project covers 15 acres just to the west of downtown.
Durham.ID will eventually include 1 million square feet of office space plus retail space and 300 residential units. To put the size of this project in perspective, the American Tobacco Historic District currently has about 1 million square feet of office space. The new innovation district will function as a “downtown research hub” with an emphasis on life science companies and provide space for Duke University researchers and companies seeking to collaborate with the university. Longfellow developers also discussed their renovation of the Main Street and Carmichael Buildings which total more than 115,000 square feet of laboratory space costing upwards of $50 million.
The Durham Chamber of Commerce has been working with the Durham iD developers, Longfellow Real Estate Partners and Measurement Inc., the City of Durham and Durham County for the past year to address project related infrastructure. In recent weeks, the Chamber has begun bringing economic development clients to look at the Durham iD Project. Ted Conner, Senior Vice President of Economic Development with the Durham Chamber noted, “Downtown Durham is the hottest real estate market in the Triangle and Durham iD serves to bring more innovation oriented space to the market, further enhancing our economic development efforts. Conner added, “The Durham iD project does not replace the scientific innovation work taking place in RTP but instead serves to be a complement.” Conner ended by saying, “The expansion of Duke University’s scientific research to downtown Durham strengthens the city’s revitalization momentum.”

The economy of North Carolina, famed for its research
triangle, got another kick-start in February when ground was
broken on a new 311,000-square-foot building for offices and
labs located in Kannapolis, just north of Charlotte.
The project is funded by a $150 million donation from David
Murdock, who owns Castle & Cooke, Inc. and Dole Food Co., Inc.

I don’t have much use for Gary Welsh, but sometimes even a blind squirrel finds a nut, or vice versa.
Eli Lilly announced more than 5,000 layoffs Monday, many of which will impact the Indianapolis area. If Lilly goes forward with the job reductions will it have to payback some of the money it received in tax incentives over the years which were predicated on job creation?
From today’s Star…
From 1999 to 2004, the expansion added about 9,000 new Lilly jobs in Indianapolis and secured more work for the company’s 7,000 vendors in the state.
Since 2004, Lilly has shed 2,000 jobs and never reached the target of adding 9,500 new jobs in Indianapolis by 2009. That target was set in 2004 when Lilly applied for tax breaks and incentives totaling $1.6 billion in exchange for its expansion.
Scaling back now has little to do with the recession. [John] Lechleiter said the restructuring would have happened anyway, to speed up the pipeline, which has sputtered in recent years.
I have no desire to kick a major employer when they’re going through issues, but it is a fair question to ask, especially during these tough financial times.

Eli Lilly & Co. LLY, -1.56% said the pharmaceutical company should return to revenue and margin growth after 2014 and also unveiled a new $5 billion share repurchase program as executives outlined the company's outlook ahead of two major patent expirations.
Lilly expects to hit its financial goals in 2014, though market factors, such as the devaluation of the yen and slower growth in key emerging market countries, have moderated its near-term revenue growth expectations, the executives said ahead of an investment event at its headquarters
The company is in the midst of a wave of patent expirations that has pressured sales. The company lost exclusivity for its former No. 1 product, the antipsychotic Zyprexa, in October 2011, and it will lose U.S. patent protection for the blockbuster antidepressant Cymbalta in December, followed by osteoporosis drug Evista next year. The company hopes to jump-start sales by bringing new drugs to market and also has cut costs, earlier this year laying off hundreds of U.S. sales representatives.
Lilly, which has a market capitalization of about $56.9 billion, expects to maintain its dividend at least at its current level and will supplement it with its new share buyback program over time.
It also said it plans to launch several new medicines beginning next year and noted it currently has 13 potential medicines in Phase 3, the final stage of clinical studies, or in regulatory review.
"To prepare Lilly for 2014 and beyond, we committed to replenishing and advancing our pipeline, driving revenue in our growth engines and key marketed products, and increasing productivity and reducing our cost structure," Chief Financial Officer Derica Rice said.
Beyond 2014, the company expects revenue growth in four of its five businesses--diabetes, oncology, emerging markets and animal health. The fifth segment, bio-medicines, will hit a hit, losing U.S. marketing exclusivity on Cymbalta and Evista, but Lilly said the business's mid-term revenue should be relatively stable.
Shares were up by 46 cents to $51 premarket. The stock is up 2.5% since the start of the year.
Write to Nathalie Tadena at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Investment in research and development increased 85 percent to $103 million, mainly as the company spent more on its dermatology product portfolio including its plaque psoriasis treatment IDP-118 and inflammatory drug brodalumab.
While total revenue rose 9.3 percent to $2.37 billion, it missed the average analyst estimate of $2.38 billion.
(Reporting by Amrutha Penumudi and Ankur Banerjee in Bengaluru; Editing by Savio D'Souza and Saumyadeb Chakrabarty)

Eli Lilly won’t be making any mega pharmaceutical deals, Chairman and Chief Executive John Lechleiter said Wednesday.
While the environment is good for deals, with interest rates low and companies flush with cash, Lechleiter told WSJ today that Eli Lilly will be steering clear of any large deals and will not be diversifying itself.
“There are lots of opportunities to do a deal,” Lechleiter said. “I don’t think we can return to the Lilly of the 1970s, when we were buying up medical device companies…our core is pharmaceutical innovation.”
Eli Lilly ended March with $4.1 billion in cash and cash equivalents and it hasn’t done any sizable deals this year. Its animal health unit has made its most recent purchases, including a $308 million purchase that closed last July.
Eli Lilly hasn’t made a deal worth over $1 billion since its 2008 buy of ImClone Systems, a $7.1 billion deal signed at the height of the global financial crisis and shortly after Lechleiter rose to CEO.
Lechleiter said small add-on deals and partnerships are more likely, but that Eli Lilly believes its current pipeline of drugs offer better prospect than running down its cash pile buying late-stage products from other drug makers. He also questioned whether acquisitions provide returns for shareholders, saying he’d rather maintain Eli Lilly’s dividend instead.
Though M&A activity on the whole has been rather quiet to start the year, there have been some pharmaceutical deals that have grabbed headlines, including Watson Pharmaceuticals’s $5.9 billion deal to buy Actavis Group and Hologic’s $3.9 billion deal for Gen-Probe. There also have been hostile attempts including Roche Holding’s attempt to buy Illumina and the GlaxoSmithKline pursuit of Human Genome Sciences.
So far this year there have been $49.2 billion worth of pharmaceutical deals around the globe, well under half of last year’s total $129.5 billion, according to Dealogic.

OR WAIT null SECS
Eli Lilly sold rights to two of its legacy antibiotics as well as its Suzhou, China, manufacturing facility, to China-based specialty pharmaceutical company Eddingpharm in a deal worth $375 million.
Eli Lilly announced on April 22, 2019 that it has entered into an agreement with Eddingpharm, a China-based specialty pharmaceutical company, to sell rights to two of the Lilly’s antibiotic medicines-Ceclor (cefaclor monohydrate) and Vancocin (vancomycin hydrochloride)-in China as well as a manufacturing facility in Suzhou, China, that produces cefaclor monohydrate in a deal worth $375 million.
Under the terms of the agreement, Lilly will receive a deposit of $75 million, followed by a payment of $300 million upon successful closing of the transaction. As part of the transaction, all employees at the Suzhou manufacturing facility and certain employees from shared functions will be offered the opportunity to remain at the facility and continue to work with Eddingpharm. Lilly reports that it will provide ongoing services to Eddingpharm for a period of time to ensure continuity of product supply and support the transition of the facility.
The transaction is expected to close in either Iate 2019 or early 2020, subject to customary closing conditions and regulatory approval.
Eddingpharm, headquartered in Hong Kong, manufactures clinical nutrition, antibiotics, respiratory system, nephrology, and cardiovascular pharmaceutical products and has nearly 1500 employees in China.
"Lilly remains committed to improving the health of people in China," said Julio Gay-Ger, president and general manager of Lilly China, in a company press release. "This transaction will enable Lilly China to better focus our resources on the exciting new therapies that we are launching in our core therapeutic areas, so that we can bring more life-changing medicines to patients in China."

DPR Completes Solid-Dose Manufacturing Facility for United Therapeutics Corporation
United Therapeutics Corporation’s New Facility in Raleigh-Durham’s Research Triangle Park Uniquely Integrates Manufacturing and Office Environments
From the first glance, it is clear that United Therapeutics Corporation (UT) envisioned creating something far beyond the “ordinary” when it engaged DPR to construct its new 203,000-sq.-ft. manufacturing, research and office facility in Raleigh-Durham’s prestigious Research Triangle Park.
The project included:
- Curved metal panels that wrap around the entire structure.
- Extensive natural daylight that is transported into what are typically enclosed manufacturing spaces through use of interior floor-to-ceiling glass curtainwalls, skylights and a two-story atrium.
- A glass-encased entry lobby including a saltwater aquarium feature.
Project: Solid Dose Manufacturing Facility
Client: United Therapeutics
Architect: O’Neal, Inc.
The facility also has a purposeful intent behind its soaring design. The goal was “to make sure we did something unique and fundamentally different, not just externally or architecturally, but also internally by integrating the manufacturing with the office environment,” comments David Zaccardelli, Executive Vice President of Pharmaceutical Development and Operations for UT. “Too many times, manufacturing gets done behind solid walls. We wanted to build a place where we could integrate all the activities our employees do and enable them to see what happens from a manufacturing standpoint, as well as create a space that can serve the public and promote education and training.”
The new facility is ultimately intended to manufacture the oral form of treprostinil that is now in clinical trials, a new form of treatment for pulmonary hypertension. In addition to serving scientific and manufacturing functions, the facility is also office space for employees who carry out UT’s administrative, business, marketing and management functions.
UT’s new facility represents a major expansion for the Maryland biotechnology company into Research Triangle Park in Durham County, NC, one of the country’s largest science parks and an area where neither UT nor DPR had a presence when the project got underway approximately two years ago. Although the project was DPR’s first in this marketplace, its technical expertise and experience in pharmaceutical facility construction, focus on quality, proven ability to meet aggressive schedule constraints and problem-solving abilities made DPR well suited for the job.

Does any pharma CEO really need to take the no-megadeals pledge these days? The prevailing strategy is toward smaller, bolt-on buys rather than the big mergers we saw back in 2009. But we still hear the "not for me, thanks" assurance on a fairly regular basis.
The latest: Eli Lilly ($LLY) chief John Lechleiter. He told The Wall Street Journal that his company won't resort to a large deal to fix its current patent-cliff problems. And those patent-cliff problems are big: Its top-selling Zyprexa went off patent in October.
Even small deals and partnerships aren't a sure thing, he said. Lilly is betting that its own pipeline will offer a better bang for the buck than buying in a bunch of late-stage products.
Lechleiter also pledged himself to the anti-diversification crowd. Rather than spending its $4 billion or so in cash on ancillary businesses to beef up sales, Lilly will focus on prescription drugs. "I don't think we can return to the Lilly of the 1970s, when we were buying up medical device companies," Lechleiter told the WSJ. "[O]ur core is pharmaceutical innovation."
According to FierceBiotech research, Lilly spent $5 billion on R&D last year, up 3% from 2010. At the end of the year, it had 11 late-stage products, including the risky-but-potentially-huge Alzheimer's candidate solanezumab. Key study results are due later this year.
In the meantime, he said, acquisitions don't always deliver returns for shareholders. So, Lechletier said, Lilly's cash might be better spent on keeping up investor dividends.
- read the WSJ interview
Special Report: Eli Lilly - The Biggest R&D Spenders In Biopharma

Eli Lilly and Co. and Pfizer Inc., which are both suffering through some of the largest patent cliffs in the industry, will split any future costs and profits of an osteoarthritis drug that has stalled in clinical testing.
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
Lilly has set up not one, not two, but five head-to-head trials of its experimental drug dulaglutide against other leading diabetes therapies. So far, dulaglutide’s record is four wins, no losses.
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
Lilly officials said they will push ahead with the first-of-a-kind imaging chemical, despite the mostly negative ruling by Medicare officials.
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
Eli Lilly and Co. is seeking to revoke a patent held by a Johnson & Johnson unit, arguing at a London court it might delay availability of a potential treatment for Alzheimer’s disease.
Endocyte Inc. saw its shares fall nearly 7 percent Tuesday morning after the drug development firm announced that its application for U.S. approval of a cancer drug could be delayed another 10 months.
With Eli Lilly and Co. set to see patents expire on its best-selling drug at year’s end, it is in the company’s interest to say its pipeline is about to produce new drugs. But the Indianapolis drugmaker may be in a position to submit five new drugs for regulatory approval this year.
Eli Lilly and Co. said it discontinued a last-stage trial of experimental rheumatoid arthritis drug tabalumab for lack of efficacy. Lilly is still evaluating the drug in the two other late-stage studies.
China takes eight years longer on average to approve drugs than other major countries, and U.S. drugmakers are looking at ways to help speed things up, Eli Lilly and Co. CEO John Lechleiter said.
Eli Lilly and Co. said dulaglutide lowered blood sugar better than three existing diabetes drugs in three Phase 3 clinical trials.

INDIANAPOLIS, Aug. 9, 2012 /PRNewswire/ --
Eli Lilly and Company (NYSE: LLY) has revised certain elements of its 2012 reported financial guidance to reflect additional income the company will recognize as a result of the early payment of financial obligations from Amylin Pharmaceuticals.
Following the completion of its acquisition by Bristol-Myers Squibb, Amylin has paid to Lilly $1.259 billion in satisfaction of its revenue sharing obligation with respect to exenatide. As a result, Lilly will recognize income in the third quarter of 2012 of approximately $790 million (pre-tax), or approximately $.43 per share (after-tax). In addition to income previously deferred pursuant to this arrangement, Lilly also expects to recognize income in 2013 related to this payment of approximately $425 million (pre-tax), or approximately $.25 per share (after-tax), contingent upon transfer of exenatide commercial rights outside the U.S. to Amylin. Currently, Lilly anticipates these rights will be transferred to Amylin over the course of 2013. In addition, Amylin has also repaid in full to Lilly a $165 million loan and accrued interest.
"The early payment of the revenue sharing obligation by Amylin allows Lilly to recognize the obligation's value in the near-term, receive significant income in both 2012 and 2013, and further strengthen our balance sheet," said Derica Rice, Lilly executive vice president, global services and chief financial officer. "With this additional cash, we will continue to advance our pipeline of more than 60 potential new medicines in development, as well as fund capital expenditures, business development activity, our dividend and share repurchases.
"At the same time, we still expect to meet or exceed our mid-term minimum financial goals, despite not receiving 15 percent of net exenatide sales on an ongoing basis. From now through 2014, on an annual basis we still expect revenue to be at least $20 billion, net income to be at least $3 billion, and operating cash flow to be at least $4 billion."
In accordance with generally accepted accounting principles (GAAP), the recognition of the income from the early payment of the revenue sharing obligation has caused Lilly to revise certain elements of its 2012 reported financial guidance. The income has been excluded from the company's 2012 non-GAAP financial guidance.

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Eli Lilly (NYSE: LLY ) offered a range of earnings numbers for its third-quarter results. Reported earnings came in at a loss of $0.43 per share, but adjusted earnings per share were up 14% to $1.04.
The discrepancy comes from the nearly $1.5 billion charge it had to take to settle improper marketing allegations for its antipsychotic Zyprexa. Other than that, Eli Lilly had a very fine quarter.
Sales were up 14% year over year. Sales of antidepressant and fibromyalgia treatment Cymbalta, Eli Lilly's second-biggest seller behind Zyprexa, jumped 40%. Compare that with other drugs that treat depression -- year over year, sales of GlaxoSmithKline's (NYSE: GSK ) Paxil sank 23%, Wyeth's (NYSE: WYE ) Effexor climbed just 3%, and Forest Labs' (NYSE: FRX ) Lexapro were up a bit more than 4% -- and you can see why Eli Lilly should be happy.
To continue that success, Eli Lilly needs to win marketing approval for its blood clot preventer prasugrel. In June, the Food and Drug Administration pushed back its decision to the end of September, but there's still no decision from the agency, and management wasn't exactly sure when a decision would be made.
More long-term growth will need to come from the pipeline of recent acquisition ImClone Systems (Nasdaq: IMCL ) . I still contend that it was a really risky move to outbid Bristol-Myers Squibb (NYSE: BMY ) for the company, but Eli Lilly's management seems to think the move will pay off if it can get just one additional drug on the market. Then again, with so many of its drugs coming off patent in the next decade, Eli Lilly had to do something.
I think we can expect more mixed news from Eli Lilly in the future. As it moves drugs through its pipeline, expect substantial growth, followed by patent expirations and slumping sales. Hopefully, the stock price won't be on too much of a roller coaster.

"We are excited that lasmiditan will be back at Lilly, where it was originally discovered, for the conclusion of Phase 3 development and potential commercialization," said Thomas P. Mathers, CoLucid's chief executive officer. "We are proud of the work that CoLucid has done to develop lasmiditan, and we believe Lilly's expertise in pain and commitment to innovation are a natural fit to potentially bring this medicine to patients."
Under the terms of the agreement, Lilly will acquire all shares of CoLucid Pharmaceuticals for a purchase price of $46.50 per share or approximately $960 million. The transaction is expected to close by the end of the first quarter of 2017, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
While the financial charge will not be finalized until after completion of the acquisition, Lilly is expecting to recognize a financial charge of approximately $850 million (no tax benefit), or approximately $0.80 per share, as an acquired in-process research and development charge to earnings in the first quarter of 2017. The company's reported earnings per share guidance in 2017 is expected to be reduced by the amount of the charge. There will be no change to the company's non-GAAP earnings per share guidance as a result of this transaction.
Goldman, Sachs & Co. is acting as the exclusive financial advisor, and Weil, Gotshal & Manges LLP is acting as legal advisor to Lilly in this transaction. MTS Health Partners is acting as the exclusive financial advisor, and Faegre Baker Daniels LLP is acting as legal advisor to CoLucid.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism.
About CoLucid Pharmaceuticals, Inc.
CoLucid was founded in 2005 and is developing lasmiditan oral tablets for the acute treatment of migraine headaches in adults and intravenous lasmiditan for the acute treatment of headache pain associated with migraine in adults in emergency room and other urgent care settings.

In addition to these, here is the list of next top pharmaceutical companies that invested heavily in the last fiscal year:
- Abbvie ($4.86 billion)
- Eli Lilly ($4.56 billion)
- Amgen ($4.51 billion)
- Celgene ($4.23 billion)
- Boehringer Ingelheim ($3.74 billion)
- Gilead Science ($2.77 billion)
- Takeda ($3.29 billion)
- Allergan ($3.06 billion)
- Biogen($2.30 billion)
- Novo Nordisk ($2.17 billion)
EU Scoreboard 2016 (World 2500)
Luca Dezzani – IgeaHub Pharma Blog

"Do you want to pay $18 million to one person (in a lawsuit) or do you want to pay $18 million to build a campus?" she asked.
One of Lingle's concerns is that the $18.2 million is just a down payment on an estimated total of $237 million for the two new campuses.
"It's not clear where the funding will come from," she said. "I need to be able to explain to an average person what is the public benefit if we spend this money."
Star-Bulletin reporter B.J. Reyes contributed to this story.

Eli Lilly & Co.’s valuation multiples
Headquartered in Indianapolis, Indiana, Eli Lilly & Co. (LLY) has two main businesses: Human Pharmaceuticals and Animal Health.
From an investor’s point of view, the two best valuation multiples used for valuing companies like Eli Lilly are forward PE (price-to-earnings) and EV-to-EBITDA[1. enterprise value to earnings before interest, tax, depreciation, and amortization] multiples, considering the relatively stable and visible nature of their earnings.
PE multiples represent what one share can buy for an equity investor. On April 26, 2017, the company was trading at a forward PE multiple of ~19.3x, compared to the industry average of ~15.9x.
Over the last year, Eli Lilly’s (LLY) forward PE has traded in the range of 18.9x–25.5x. Among its competitors, Pfizer (PFE), Johnson & Johnson (JNJ), and Merck & Co. (MRK) have forward PE multiples of 13.0x, 16.9x, and 16.0x, respectively.
Based on the last five-year multiple range, Eli Lilly’s current valuation is neither high nor low, and its PE multiple has ranged from ~7.6x to ~26.5x.
On a capital structure–neutral and excess cash-adjusted basis, Eli Lilly currently trades at ~13.9x, which is higher than the industry’s average of ~10.8x. Among its competitors, Pfizer (PFE), Johnson & Johnson (JNJ), and Merck & Co. (MRK) have forward EV-to-EBITDA multiples of 10.1x, 11.5x, and 9.5x, respectively.
Eli Lilly’s stock price has increased ~6.1% over the last 12 months. Analysts estimate that the stock has the potential to return ~10.1% over the next 12 months. Analysts’ recommendations show a 12-month target price of $89.10 per share compared to its price of $80.96 per share on April 27, 2016. The consensus rating for Eli Lilly stock is ~2.0, which shows a moderate buy for long-term investors.

A bruised Eli Lilly buys rights to Centrexion's early-stage pain drug for $47.5M upfront
Eli Lilly is working on putting its woes in the rearview mirror. In recent months, a late-stage failure triggered the withdrawal of its cancer drug Lartruvo, the US drugmaker relegated two mid-stage drugs to the scrap heap, and Japan flagged safety concerns associated with its breast cancer treatment, Verzenio.
On Tuesday, the US drugmaker said it was acquiring the rights to an experimental early-stage non-opioid pain drug from Centrexion for $47.5 million upfront. The Boston-based company acquired the chronic pain drug CNTX-0290 — a small molecule somatostatin receptor type 4 (SSTR4) agonist — from Boehringer Ingelheim in 2016.
After kicking off the year with a bang with $8 billion agreement to buy Loxo, in a deal forged in 10 days, things for Lilly $LLY have only gone south. Last month, the company slashed its 2019 forecast by $3 billion — reflecting the Elanco Animal Health spin off — and is in desperate need for assets to improve its pipeline and prospects.
Apart from the issues outlined above, Lilly is also struggling on the R&D side. Earlier this year, researchers renewed safety fears about its once-touted blockbuster contender tanezumab and the larger anti-NGF pain drug class; the company abandoned a mid-stage BTK inhibitor, shrugging off a $690 million pact for the immunology drug — in-licensed from Korea’s Hanmi three years ago; partner Incyte $INCY halted all further R&D investments in Olumiant, a JAK inhibitor that barely managed an FDA approval, with a lower dose than Lilly had advocated for after regulators raised serious safety concerns about the drug — and the class; and then there’s the Alzheimer’s drug solanezumab, which has failed three pivotal programs but is still marinating in late-stage development, despite most observers having written it off as collateral damage in the all-but-dead amyloid beta hypothesis.
Lilly’s existing drugs aren’t in the best shape either. The company is facing fierce pressure to rein in the prices of its arsenal of diabetes drugs, while its erectile dysfunction treatment Cialis is being eaten up by generic competition.
In the deal announced on Tuesday, Centrexion may be eligible for up to $575 million in potential development and regulatory milestones.

Research Triangle Park—the grandfather of corporate complexes of its kind—is getting a people-friendly makeover to draw top talent and startups
The rolling woods along Interstate 40 in North Carolina between Raleigh and Durham have little in common with a bustling urban streetscape. And that is exactly according to the plan used 50 years ago when Research Triangle Park opened amid the area's three big universities—Duke, North Carolina State, and the University of North Carolina at Chapel Hill. Today the research park's 11 square miles remain an oasis of manicured corporate campuses, wide commuter roads, and landscaped parking lots. It's "Ward Cleaver's version of the perfect industrial park," quips Brent Lane, director of the Center for Competitive Economies at UNC-Chapel Hill. But in a few years, some of this acreage should feel more like a densely packed suburban center. As research parks sprout up inside big cities around the globe, the grandfather of today's research and development complexes is under pressure to make itself livelier. So it's adding facilities tailored to startups as well as shops and housing at the park's edges. The goal, says Rick L. Weddle, CEO of the Research Triangle Foundation of North Carolina, which manages the park, is to make the place "consistently more attractive to the brightest minds in the world." The evolution won't be simple. Because the park is designated as a self-taxing authority and subject to zoning restrictions in two counties, residential housing construction must be limited. Covenants with the park's board and its roughly 170 corporate residents—owners such as IBM (IBM) and Cisco (CSCO) buy their land from the foundation—require consensus on land-use changes. Retail and Housing
As a result, Weddle, who has been in the job for five years, has focused on development around the periphery and is planning a few dense "nodes and niches" within it. Those include a 25-acre retail and housing site near a forthcoming transit hub and potentially a 100-acre site that currently hosts office space, a couple of bank branches, and a vacant shopping center. "Let's not kill the goose that laid the golden egg," Weddle says, referring to the park's model of historically catering to large companies.

And when I look at Lilly, I see one of the best pipelines in the industry and I think part of that pipeline has been supported by some of the costs that you currently have.
Conover: How do you judge what's the appropriate cost-cutting metric versus having a very powerful pipeline?
Ricks: Well, it's a balance. I think we have to be driven by value in the long term, picking the best ideas and bringing them forward. So, we're not in a given year tightly bound to the range--I think we said 18% to 20% long term. We feel the latitude to vary below or above that, depending on the investment opportunities in front of us right then, but rather long term, we see that as a sustainable range to think about R&D cost.
One factor to consider is in this window right now, 2012-14, we are in this YZ period. We really view this is our trough revenue. So, one way the percentage will come down is just through revenue growth as we launch this pipeline, but long term also I think we have to be prudent about where we make those big Phase III bets and hold up a pretty high bar on differentiation and on the quality of the science. Our ambition is not to buy other companies, but rather grow organically. So we have to make sure the next idea is at least as good as or better than those that are already in Phase III. That's part of the discipline of setting those targets. If what you are really wondering is, in a given year will we stop investing because we go to 20.1%, the answer is no. But through time, we see that as a reasonable range in a company that will be growing.
Conover: Sure. That makes sense.
Ricks: So, the absolute number may in fact grow.
Conover: OK. Then one last question: What do you think is most underappreciated by the investment community for Eli Lilly?
Ricks: There are many things, but I think at the top of the list might be the quality of the Phase III pipeline beyond sola. I have responsibility for the solanezumab Alzheimer's drug, and we're of course excited by what we see in that initial set of data. We'll see what happens next, but there has been a huge, I think too much, focus this year from analysts on that one asset.

Eli Lilly and Co., under pressure to gain new products after setbacks this week with two diabetes drugs, may try to acquire its partner Amylin Pharmaceuticals Inc. or covet companies with more approved products.
With Amylin, Lilly would gain full control of the diabetes drug Byetta and a longer-acting version called Bydureon delayed this week by U.S. regulators, said Seamus Fernandez, a Leerink Swann & Co. analyst. Lilly might try to acquire Cephalon Inc. or Endo Pharmaceuticals Inc. to expand its painkiller business, said Bill Tanner, an analyst at Lazard Capital Markets.
By 2013, Lilly loses patents on medicines responsible for almost half its revenue. The Bydureon rejection, which stalled a new revenue source for at least two years, was compounded Wednesday when the company halted tests on a second experimental diabetes medicine because it wasn’t effective. Lilly Chief Executive Officer John Lechleiter on Thursday ruled out “large-scale combinations” while expressing interest in smaller deals.
“An outright acquisition of Amylin certainly could make sense” if Lilly thinks Bydureon will be approved, Fernandez said in a telephone interview from Boston. Amylin, based in San Diego, lost half its market value on Wednesday after the Food and Drug Administration requested a study of Bydureon’s effect on heart rhythm.
Amylin shares increased 45 cents, or 4.1 percent, to close at $11.48 on Thursday in Nasdaq Stock Market composite trading, after a 46 percent plunge on Wednesday. Indianapolis-based Lilly fell 51 cents, or 1.4 percent to close at $35.50 on the New York Stock Exchange.
The average premium paid in the last 12 months for acquisitions of U.S. medical and biotechnology companies was 40 percent, according to data compiled by Bloomberg. That suggests Amylin may have cost $2.3 billion Thursday, excluding debt, compared with $3.4 billion before shares plunged this week. Lilly had $5.16 billion in cash to make deals as of June.
Other diabetes-drug developers led by Pfizer Inc. and Sanofi-Aventis SA may also pursue Amylin at its bargain price, Fernandez said. Ray Kerins, a spokesman for New York-based Pfizer, the world’s largest drugmaker, didn’t return calls for comment.

Eli Lilly and Company (NYSE: LLY) announced today that pursuant to its previously announced cash tender offer for up to $1.6 billion aggregate principal amount (the “tender cap”) of specified series of its outstanding debt.
Approximately $1.45 billion in aggregate principal amount of the notes listed in the table below were validly tendered and not validly withdrawn on or prior to 5:00 p.m., New York City time, on May 27, 2015, the early tender date for the offer.
Subject to the terms and conditions of the tender offer, Lilly expects it will accept for purchase all of the notes validly tendered and not validly withdrawn on or prior to the early tender date. The settlement date for the notes accepted by Lilly in connection with the early tender date currently is expected to be on June 5, 2015.
Lilly expects to determine the pricing terms of the tender offer at 11:30 a.m., New York City time, on May 28, 2015. The tender offer is scheduled to expire at 11:59 p.m., New York City time, on June 10, 2015, unless extended or earlier terminated.
Holders of notes subject to the tender offer who validly tendered and did not validly withdraw their notes on or prior to the early tender date are eligible to receive the total consideration, which includes an early tender premium of $30 per $1,000 principal amount of notes tendered by such holders and accepted for purchase by Lilly. Accrued interest up to, but not including, the settlement date will be paid in cash on all validly tendered notes accepted and purchased by Lilly in the tender offer.
In accordance with the terms of the tender offer, the withdrawal date was 5:00 p.m., New York City time, on May 27, 2015. As a result, tendered notes may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law.
The tender offer is being conducted upon the terms and subject to the conditions set forth in the Offer to Purchase, dated May 12, 2015, and the related Letter of Transmittal.
Lilly has retained Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC to serve as lead dealer managers for the tender offer and has retained D.F. King & Co., Inc.

Second-Quarter Significant Items Affecting Net Income
Net income was affected by significant items totaling $.11 and $.29 for the second quarter of 2008 and the second quarter of 2007, respectively, which are reflected in the company's financial results and are summarized below and in the table that follows:
-- The company recognized restructuring and other special charges of $88.9 million, primarily associated with previously-announced strategic exit activities related to manufacturing operations, which decreased earnings per share by $.05.
-- The company recognized asset impairments associated with certain manufacturing operations (included in cost of sales) of $57.1 million, which decreased earnings per share by $.04.
-- The company incurred in-process research and development (IPR&D) charges associated with the licensing arrangement with TransPharma Medical Ltd. of $35.0 million, which decreased earnings per share by $.02.
-- The company incurred IPR&D charges associated with the acquisition
of Hypnion of $291.1 million and the acquisition of Ivy of $37.0 million,
which decreased earnings per share by $.29.
Second Quarter % Growth
E.P.S. (reported) $.88 $.61 44 %
Restructuring charges (included in
asset impairments, restructuring
and other special charges) .05
Asset impairments (included
in cost of sales) .04 -
In-process research and development
charges associated with in-licensing
transaction with TransPharma (2008)
and acquisitions of Hypnion and
|SOURCE Eli Lilly and Company|
Copyright©2008 PR Newswire.
All rights reserved

Except for historical information, this press release may contain forward-looking statements, relating to expectations, plans, or prospects for Transition and/or Lilly. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements. These risks and uncertainties include, among others, the completion of clinical trials, the FDA and other foreign review processes and other governmental regulation, the companies' abilities to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, the ability to effectively market products, and other factors which may be beyond the control of either Transition or Lilly. Please see Transition's filings with the Canadian commissions and Lilly's filings with the U.S. Securities and Exchange Commission for further information about risk factors and other cautionary statements. Neither Transition nor Lilly undertakes a duty to update forward-looking statements.
CONTACT: Mark E. Taylor of Eli Lilly and Company, +1-317-276-5795, or ElieFarah of Transition Therapeutics Inc., +1-416-260-7770 x.203
Ticker Symbol: (NYSE:LLY),(NASDAQ-NMS:TTHI)
Terms and conditions of use apply
Copyright © 2008 PR Newswire Association LLC. All rights reserved.
A United Business Media Company
Posted: March 2008

Eli Lilly and Company (NYSE: LLY) announced today the early tender results of its previously announced cash tender offer for specified series of its outstanding debt securities. Lilly also announced that it has removed the previously announced note caps setting forth the maximum principal amounts of its 4.150% Notes due 2059 and its 3.950% Notes due 2049 that Lilly will accept for purchase pursuant to the tender offer. Except as described in this press release, all other terms of the tender offer as described in the Offer to Purchase, dated September 7, 2021 (the “Offer to Purchase”), and the related Letter of Transmittal remain unchanged.
A total of $2,016,575,000 in aggregate principal amount of the notes listed in the table below were validly tendered and not validly withdrawn on or before 5:00 p.m., New York City time, on September 20, 2021, the early tender date for the tender offer. The table below sets forth the aggregate principal amount of each series of notes subject to the tender offer that was validly tendered and not validly withdrawn on or prior to the early tender date.
|Title of Security||CUSIP No.||Acceptance Priority Level||Principal Amount Outstanding||Principal Amount Tendered||Approximate Percentage of Outstanding Amount Tendered||Anticipated Principal Amount to be Accepted for Purchase|
|4.150% Notes due 2059||532457 BU1||1(1)||$1,000,000,000||$408,714,000||40.87%||$408,714,000|
|3.950% Notes due 2049||532457 BT4||2(2)||$1,500,000,000||$541,847,000||36.12%||$541,847,000|
|7.125% Notes due 2025||532457 AM0||3||$229,692,000||$12,221,000||5.32%||$12,221,000|
|6.770% Notes due 2036||532457 AP3||4||$174,445,000||$15,880,000||9.10%||$15,880,000|
|5.950% Notes due 2037||532457 BC1||5||$284,112,000||$17,284,000||6.

Both tax rates assume the extension of the R&D tax credit for the full year 2012.
Operating cash flows in 2012 are still expected to be more than sufficient to fund capital expenditures of approximately $800 million, as well as anticipated business development activity, the company's current dividend and stock repurchases.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com; Lilly's clinical trial registry is available at www.lillytrials.com.
This press release contains forward-looking statements that are based on management's current expectations, but actual results may differ materially due to various factors. There are significant risks and uncertainties in pharmaceutical research and development. There can be no guarantees with respect to pipeline products that the products will receive the necessary clinical and manufacturing regulatory approvals or that they will prove to be commercially successful. Pharmaceutical products can develop unexpected safety or efficacy concerns. The company's results may also be affected by such factors as competitive developments affecting current products, including the impact of generic competition; market uptake of recently-launched products; the timing of anticipated regulatory approvals and launches of new products; regulatory actions regarding currently marketed products; issues with product supply; regulatory changes or other developments; regulatory compliance problems or government investigations; patent disputes; changes in patent law or regulations related to data-package exclusivity; other litigation involving current or future products; the impact of governmental actions regarding pricing, importation, and reimbursement for pharmaceuticals, including U.S. health care reform; changes in tax law; asset impairments and restructuring charges; acquisitions and business development transactions; and the impact of exchange rates and global macroeconomic conditions. For additional information about the factors that affect the company's business, please see the company's latest Form 10-Q and Form 10-K filed with the U.S. Securities and Exchange Commission. The company undertakes no duty to update forward-looking statements.
|SOURCE Eli Lilly and Company|
Copyright©2012 PR Newswire.
All rights reserved

Funded status for the pension plans of Eli Lilly & Co., Indianapolis, improved to a cumulative 95% for 2013, from 79% the previous year, according to the company's 10-K filing.
Lilly reported $9.48 billion in global defined benefit pension assets as of Dec. 31, up 14.4% from the end of 2012, on the strength of $1.14 billion in investment returns, according to the 10-K.
The company contributed $429 million to its global pension plans last year, down from $470 million in 2012. The filing did not state any expected pension funding for 2014.
Eli Lilly's pension funds increased their combined actual international equity allocation to 26.1% last year, from 23%. Hedge funds remained the largest asset class, at 30.6%, although the allocation was trimmed by two percentage points from 2012. Fixed income was cut to 15% from 17.8%; private equity was trimmed to 11.3% from 12%; real estate was 5.5%, down from 6.1%; U.S. equity was cut to 4.2% from 5.5%; and other investments were increased to 7.3% from 4.8%.
Susan Ridlen, assistant treasurer, said Lilly does not disclose how many pension plans it offers globally. According to Ms. Ridlen and the 10-K, 80% of Lilly's global pension assets are with U.S.- and Puerto Rico-based plans.

Although the company remains solidly in the unbranded drug space, its $6.8-billion purchase last year of Cephalon and its CNS portfolio means more exposure to the brand side of the patent-protection wars, as CNS drugs Provigil, Copaxone and Treanda burn through their exclusivity periods. Teva dealt Par the right to sell an authorized generic of Provigil, meaning Teva earns from both ends of the patent spectrum. The company says it has 177 product registrations awaiting FDA approval—120 of these are patent challenges for first-to-market generic rights.
6 Eli Lilly $14.9B up 4.2%
Global revenue: $24.3B (10th); up 5.2%
R&D spend: $5.0B (9th), up 2.0%; 20.6% of rev.
Top brands: Cymbalta ($3.2B), Zyprexa ($2.2B), Humalog ($1.4B), Alimta ($995M), Evista ($707M)
Planned launches: BI 10773 (diab.), dulaglutide (diab.)
Promotional spend: $1.4B (2nd); 9.2% of rev.
Patent expirations: Humalog (2013), Cymbalta (2014), Evista (2014)
Eli Lilly spends the most of the top 20 drugmakers, as a percentage of revenue, on R&D. Unfortunately, R&D output is not necessarily correlated with what you spend, showed a study funded by the Midwest company which was cited by the Sanford Bernstein analyst Tim Anderson. Anderson predicts a bolt-on acquisition. But Lilly's pipeline is slowly improving. After its GLP-1 partnership with Amylin dissolved late last year, dulaglutide moved to the forefront as its lead GLP-1 candidate, and Lilly is aiming for a 2013 filing. Somewhat of a longshot is Alzheimer's candidate solanezumab, which passed an interim safety analysis in January. Recent launch Tradjenta was the third DPP-IV to market and has diabetes giant Januvia to contend with. Patent expirations loom on two megablockbusters—CNS drug Cymbalta and diabetes med Humalog.

The program is expected to incur $1.4 billion in one-time restructuring charges, of which $800 million are likely to be cash costs. In addition, the company will invest approximately $500 million in establishing the new centre in Cambridge. Annualized benefits of approximately $190 million are expected by 2016 for the program.
“I recognize that our plans will have a significant impact on many of our people and our stakeholders at the affected sites. We are fully committed to treating all our employees with respect and fairness as we navigate this important period of change,” said Pascal Soriot.
Final estimates for program costs, benefits and headcount impact in all areas of the business are subject to completion of applicable consultation processes in accordance with local laws.

Eli Lilly will pay AC Immune CHF 30 million ($30.2 million) in the first milestone payment tied to the companies’ CHF 1.89 billion ($1.9 billion) collaboration launched in December to develop new treatments for Alzheimer’s disease and other neurodegenerative disorders, the Swiss biotech said today.
AC Immune said it will receive the milestone payment on or before October 7, 2019, in “a recognition of progress in the collaboration between the two companies”—namely the launch in July of a Phase I trial of ACI-3024, the company’s lead tau aggregation inhibitor small molecule candidate.
The Phase I trial is designed to assess the safety, tolerability, pharmacokinetics, and pharmacodynamics of ACI-3024 in healthy volunteers, AC Immune said, through a randomized, placebo controlled, double blind, sequential single and multiple ascending dose study with open label food effect and pharmacodynamics assessment arms.
“The start of the ACI-3024 Phase 1 study, represents an important advancement in the broader effort we are making and further expands our robust clinical pipeline to address neurodegenerative diseases, in particular for therapeutics and diagnostics targeting Tau,” AC Immune CEO Prof. Andrea Pfeifer said in a statement.
ACI-3024 is a first-in-class investigational oral small molecule Tau Morphomer candidate in development for treatment of Alzheimer’s disease (AD) and other neurodegenerative disorders. ACI-3024 is the primary focus of the collaboration with Lilly, launched in December 2018 to research and develop tau aggregation inhibitor small molecule using AC Immune’s Morphomer platform.
Under their agreement, AC Immune agreed to conduct the initial Phase I development of the Morphomer Tau aggregation inhibitors, while Lilly agreed to fund and conduct additional research and further clinical development.
AC Immune has said that ACI-3024 has shown tau aggregation inhibition in preclinical models. At the Jefferies Healthcare Conference in November 2018, Pfeifer presented data showing a significant inverse correlation between cerebrospinal fluid levels of Tau and ACI-3024 exposure in plasma—which “might indicate an increase of Tau clearance from the brain.”
The milestone payment is half of the CHF 60 million ($60.4 million) in near-term milestone payments Lilly agreed to pay AC Immune under the collaboration.

The new facilities are to be located on adjacent property, and are likely to include hotels and a business complex, among many other attractions. Developers estimate the cost of the expansion to be around $2.1 billion US dollars (USD). It appears that there has been mostly positive public support for the project.

Eli Lilly and Co. plans to use an implantable drug-delivery system made by Medtronic Inc. to precisely target patients' brains with an experimental drug for Parkinson’s disease. The two companies announced their partnership on the Parkinson’s medication Tuesday morning.
Indianapolis-based Lilly has not yet begun human trials of its drug, known as a glial cell derived neurotrophic factor, or GDNF. Lilly said in a press release that it has engineered the biotech drug to distribute more broadly than other neurotrophic agents have in previous tests. Minneapolis-based Medtronic’s system, which uses a pump and catheter, supplies a steady amount of the drug to a specific brain region over time.
Financial terms of the partnership were not disclosed.
“By collaborating with Medtronic from the earliest phase of research, we are maximizing the potential for this therapy's efficient and effective development,” said Michael L. Hutton, chief scientific officer of Lilly’s neurodegeneration team, in a prepared statement.
There is no known cure for Parkinson’s, a condition caused by the loss of brain neurons that produce dopamine, a chemical messenger key to the brain’s coordination of movement. Parkinson’s patients suffer from imbalance, tremors and muscle stiffness.
Some of the most famous victims of Parkinson’s are the former boxer Muhammad Ali and actor Michael J. Fox. They are among more than 7 million estimated Parkinson’s patients worldwide.
By injecting neurotrophic factors into the brain, scientists expect that they would strengthen existing neurons, helping them produce more dopamine, said Ros Smith, senior director of regenerative biology at Lilly. Keeping neurons functioning longer could slow progression of Parkinson’s rather than treating its symptoms, as existing therapies do.
However, because neurotrophic factors are large proteins, they don’t easily cross from the bloodstream into the brain, Smith said. But Lilly scientists hope that Medtronic’s delivery system can overcome that obstacle.
"One of the most significant challenges in delivering a biologic treatment for neurodegenerative diseases is crossing the blood brain barrier. We have extensive experience in targeted drug delivery and technology that allow delivery of therapeutic agents directly to the brain,” said Dr. Steve Oesterle, senior vice president of medicine and technology at Medtronic.

IN: AB BioTechnologies to Invest $10+M, Add 33 Jobs & Contract Mfg Services
11 Jan, 2017
AB BioTechnologies, a pharmaceutical development company, announced plans to add new contract manufacturing operations in Bloomington, creating up to 33 new high-wage jobs by 2020.
“AB BioTechnologies showcases the big impact small businesses are making in communities around the state,” Governor Eric Holcomb said. “As AB BioTechnologies expands its business to include pharmaceutical manufacturing, it’s not just helping advance the development of new medicines — it’s showing the important role life science firms play in creating great-paying Hoosier jobs. Looking to the future, Indiana must continue to invest in life-sciences research and entrepreneurship as well as STEM education to prepare Indiana’s future workforce for opportunities in this and other high-demand fields.”
The homegrown Hoosier company will invest $10.5 million to construct and equip a 23,000-square-foot facility at 3770 W. Jonathan Drive in Bloomington, where the company will launch its clinical manufacturing services, helping its clients advance their drugs from concept to clinic under one roof. This includes a manufacturing area for formulating, filling, lyophilizing and packaging drugs for early-phase Clinical Trial studies. The company will also be relocating its warehouse and development laboratory to the facility, moving from its current 1,950-square-foot building to the new facility in Bloomington. With construction scheduled to begin this spring, the company plans to open its new facility in November 2017.
AB BioTechnologies has tripled its profits annually since 2010 by expanding its service offerings and client base as well as significantly increasing the number of candidate drug products it has developed for its clients. The company plans to begin hiring early this year for technical and support positions.
“The support we have received from the Gayle & Bill Cook Center for Entrepreneurship, Ivy Tech Community College, the Bloomington Economic Development Corporation and the state of Indiana have been instrumental in making this expansion a reality,” said J. Jeff Schwegman, Ph.D., founder and chief executive officer of AB BioTechnologies. “After evaluating the east and west coasts for our expansion, it became quite evident that Indiana was the superior choice. Indiana is rich in talent as a result of the increases in life science programs offered by state universities and colleges and number of life science companies within our borders, which will enable us to build a skilled workforce.

UPDATE: This article is also posted on Seeking Alpha. For the first time, my article was accepted to be on Seeking Alpha. The link to the article on Seeking Alpha can be found here, or http://seekingalpha.com/article/3707566-eli-lilly-is-overvalued-too-costly-to-buy.
On October 22, Eli Lilly (LLY) reported an increase in the third-quarter profit, as sales in its animal health segment and new drug launches offset the effect of unfavorable foreign exchange rates and patent expirations. Indianapolis-based drug maker posted a net income increase of 60% to $799.7 million, or to $0.75 per share, as its revenue increased 33% in animal health segment. In January 2015, Eli Lilly acquired Norvartis’s animal health unit for $5.29 billion in an all-cash transaction. The increase in the animal-health revenue helped offset sharp revenue decreases in osteoporosis treatment Evista and antidepressant Cymbalta, whose revenue fell 35% and 34% year-over-year, respectively. Eli Lilly lost U.S. patent protection for both drugs last year, causing patent cliffs. Lower price for the Evista reduced sales by about 2%.
Total revenue increased 2% to $4.96 billion even as currency headwinds, including strong U.S. dollar, shaved 8% off of the top line in revenue. Recently launched diabetes drug Trulicity and bladder-cancer treatment Cyramza helped increase profits, bringing a total of $270.6 billion in the third-quarter. Eli Lilly lifted its guidance for full-year 2015. They expect earnings per share in the range of $2.40 and $2.45, from prior guidance of $2.20 to $2.30.
Despite the stronger third-quarter financial results, I believe Eli Lilly is overvalued. Eli Lilly discovers, develops, manufactures, and sells pharmaceutical products for humans and animals worldwide. The drug maker recently stopped development of the cholesterol treatment evacetrapib because the drug wasn’t effective. Eli Lilly deployed a substantial amount of capital to fund Evacetrapib, which was in Phase 3 research, until they decided to pull the plug on it.

Eli Lilly’s galcanezumab is forecast to produce around $484 million in 2022, while Amgen/Novartis’ erenumab will bring in around $475 million.
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A £35m scheme which will cement a Cambridge research park's reputation as one of the UK's leading hubs of bioscience research innovation has been given the green light.
US life science property business BioMed Realty is making the £35m investment in Babraham Research Campus, which will see two new buildings constructed providing up to 100,000 sq ft of new R&D space .
Planners at South Cambridgeshire District Council have now approved the scheme, which is due for completion in 2019.
Babraham Bioscience Technologies (BBT) is responsible for the management and commercial development of the campus, which is already home to around 1,200 workers. The new buildings will be accessed via a new spur road that has just been built off the main access road onto the campus.
Doug Cuff is senior director of development for BioMed Realty, which also runs the Granta Park research park.
He said: “We are honored to be part of this important international partnership with BBT and the Biotechnology and Biological Sciences Research Council to begin the ground-up development of two new buildings to grow bioscience-based companies on the Babraham Research Campus.
“We are truly excited that BioMed @ Babraham will provide scale-up companies with an additional 100,000 sq ft of state-of-the-art R&D facilities in the heart of the preeminent Cambridge life science community that will support transformational scientific research.
“But, the most important reason for building BioMed @ Babraham is people, and connecting them with the 60+ scale-up companies on the Babraham Research Campus and the world-renowned researchers and resources of the Babraham Institute.”
Babraham Hall, which was built in the 1830s, will remain a dominant part of the expanded campus. The new buildings have been designed to make sure they will be in keeping with other facilities already in place on the campus.
A landscape strategy that was completed as part of the planning process will ensure the retention pf trees that are within and alongside the site. More than 300 additional trees and 2,000 shrubs will also be planted to enhance the campus environment.
Cllr Robert Turner, cabinet member for planning, said: “This is a big economic boost to South Cambridgeshire and further strengthens our reputation as a centre for world class bioscience innovation.

Deciphera receives $6 million payment as cancer drug advances, sets up corporate offices in Boston; Bargain Depot closing; update on SportQuest
There are 6 million pieces of good news on the Lawrence bioscience front today, and one piece of news that may create some worry among local bioscience leaders.
Deciphera Pharmaceuticals — the Lawrence-based biotech company that has been labeled as a hot prospect for breakout success — has reached a major milestone. The company announced that it has received a $6 million payment from the pharmaceutical giant Eli Lilly after one of Deciphera's cancer treatment inhibitors moved into phase I clinical trials. Deciphera is developing the treatment, which the company hopes will be successful in battling several types of advanced cancer, in partnership with Eli Lilly.
At the same time, Deciphera announced that it has a new president/CEO and that the company is establishing corporate offices in Boston. New president and CEO Mike Taylor, a biotech veteran, will office in Boston.
Deciphera's press release says all research activities for the company will continue to be based in Lawrence. But the press release doesn't make clear whether the company's corporate headquarters will be in Boston. Reports by biotechnology media outlets give that impression. The Web publication FierceBiotech reports Taylor "is looking for a handful of execs to join him in the big Boston hub."
Boston is one of the power centers for the pharmaceutical industry, and Deciphera clearly is moving into a new phase of its development. Taylor previously was CEO of Ensemble Therapeutics, where he brokered research alliances with Roche, Bristol-Myers Squibb, Pfizer and other major pharmaceutical companies.
Dan Flynn, the founder of Deciphera, will remain with the company, but will give up his title of president and CEO. Flynn now will serve as chief scientific officer, and will continue to serve as a member of the company's board of managers. It appears that he'll remain based in Lawrence with the research operations.
Perhaps in today's mobile world, the idea of corporate headquarters isn't as important as it used to be. Lawrence leaders, after all, will be thrilled if Deciphera grows its research team and the good-paying jobs that come with it in Lawrence. But local leaders — with good reason — long have been concerned about promising companies with KU ties leaving Lawrence just before they become big successes.

The spending plan also puts $3 million on a future riverfront park at the junction of First Avenue and Gay Street.

The city’s economic-development office wants the City Council to make a $924,676 incentive to keep a Durham pharmaceutical company in Durham.
Argos Therapeutics, whose home office is in northern Durham, plans an expansion and is being courted by five other North Carolina counties along with locations in Florida and Quebec, according economic development Director Kevin Dick’s memo to City Council members.
If done in Durham, the expansion would involve remodeling a 112,000-square foot building on T.W. Alexander Drive to accommodate company offices, manufacturing and research.
The incentive is on the council’s work session agenda Thursday and could move on for a vote at the Aug. 18 regular council meeting.
Durham County commissioners approved $925,000 incentive for Argos last week. Argos is also asking the state commerce department for money.
Argos Therapeutics ( bit.ly/URmnsF) has two products undergoing trials, one for a form of kidney cancer and the other for HIV, and expects they will also be effective for a range of cancers and infectious diseases. Its drug therapy is biochemically personalized for each patient, giving Argos, according to a corporate presentation, a market advantage over large competitors such as Novartis, Merck and Pfizer.
The company was incorporated in 1998, according the N.C. Secretary of State records, and made its initial public offering in February, grossing $45 million at $8 a share.
According to Dick’s memo, Argos’ plans include a $41 million capital investment that should lead to 236 new jobs by 2018 with an average wage of $90,725 plus benefits.
If approved, the city incentive would be paid in seven installments, anticipated to start in fiscal year 2016, conditional on Argos meeting specific investment and job-creation goals. Argos would be required to show evidence it has made the $41 million investment within three years of the incentive’s approval.
Increased tax revenue from the company, estimated at $1.7 million over 10 years beginning in fiscal 2016, would cover the city’s incentive cost and leave a profit of about $775,000.

Statewide: Triangle region, March 2015
Think of The Frontier as one big beta test for the office park where technology innovations have revolutionized North Carolina. The 142,000-square-foot renovated building is the first to open on 100 acres that Research Triangle Foundation bought last year for $17 million. Its mission is to make Research Triangle Park, already home to more than 190 companies including IBM and GlaxoSmithKline, a destination for people to gather and collaborate. “By having The Frontier, we can play with the idea of accessibility and affordability,” RTF President and CEO Bob Geolas says. The building’s first floor is open to anyone for free, and there are conference rooms and tables for work. (There’s also a bar with a Kegerator and coffee station.) The Frontier has about 50 private offices that can be leased month-to-month for about $300. The concept is more co-working space than startup incubator. “It’s co-working, but it’s really co-working in an open-innovation concept where everyone has a chance to interact,” Geolas says. The Frontier has meeting spaces for small and large groups and has already booked its first tenants, which include the Army Research Office and the nonprofit Triangle ArtWorks, which promotes regional arts groups. RTP wants to transform itself from a 7,000-acre suburban office park — albeit one of the most famous in the U.S. — into a more attractive site for the hottest tech companies. Plans call for developing a hotel, apartments and 300,000 square feet of retail shops with a goal of adding 100,000 jobs. New roads are slated for as soon as next year. “What we’re doing is creating something that’s going to help North Carolina become a more competitive place.”
RALEIGH — The state agreed to sell the 307-acre Dorothea Dix Hospital property to the city of Raleigh for $52 million. The city plans to create a park on the site, which includes the former mental-health treatment center that closed in 2012 and several dozen administrative buildings.
DURHAM — CoLucid Pharmaceuticals raised $37.1 million in a stock offering led by TVM Capital Life Science, a venture-capital firm based in Munich and Montreal. Founded in 2005 by Durham-based Pappas Ventures, the drugmaker based here will use the proceeds to fund a study of a migraine treatment it is developing.

Last quarter, volume increased 7% and the effect of price changes was flat. The company got a 13.8% volume boost from its new drugs, but older drugs losing exclusivity also had higher volume than they have had in recent quarters. During Q3, the company spun off its animal health business through the IPO of Elanco, which also reported today.
Eli Lilly raised EPS guidance for the full year to a range of $5.55 to $5.60, up from $5.40-$5.50 previously.

Earlier this year, Catalent announced plans to invest in its Somerset, NJ facility to create an additional center of excellence on America’s East Coast.
The company also completed a $5.5m expansion program at its 200,000+ square foot facility in Philadelphia, PA in April of this year. The expanded facility provides additional clinical packaging and storage capacity.

Lupin To Build 2 New U.S. R&D Centers
Pharmaceutical firm Lupin announced that it is currently building two new research and development centers in the U.S. dedicated to researching inhalation and complex drug formulations.
According to Lupin’s chairman, this move will help the company continue to assert itself as a leader in generics and specialty pharmaceuticals. Chairman Desh Bandhu Gupta told The Economic Times, “In keeping with our global strategy of building a highly differentiated generic and speciality business, the company is in the process to setting up two dedicated Centers of Excellence for research in inhalation and complex injectables in Florida and Maryland in the US.”
The company revealed that it has invested heavily in R&D in the last few years, increasing its investment of 8.1 percent of its net sales in 2013 to 8.6 percent in the fiscal year 2014.
The company asserted that research continues to be its “backbone,” reporting that, following milestones in its various partnerships, it has increased filings based on its process and formulations research group. In particular, Lupin’s Novel Drug Discovery and Development (NDDD) program, targeting new metabolic/endocrine disorders, pain, autoimmune disease, and cancer treatments, among others, as well as its Biotechnology research program have both seen advancements as of late. Gupta added that Lupin’s Advanced Drug Delivery Systems (ADDS) is aiding the company to build a differentiated pipeline of branded drugs and opportunities for out-licensing. The Biotech group has been redirecting its efforts to develop its biosimilar offerings for advanced markets such as Japan, he said.
The fiscal year 2014 saw 45 regulatory approvals in key markets for Lupin. These include supplemental NDAs in the U.S., EU, Australia, Canada, and Japan. Gupta said, “The company also filed 19 ANDAs (of which, 4 are potentially first-to-file) with the US FDA, 4 MAAs with European regulatory authorities, 4 MAAs in Australia and 2 ANDS in Canada. The cumulative ANDA filings with the USFDA stood at 192 with 99 approvals. The company has 30 confirmed first-to-files including 15 exclusive ones.”
Last month, Lupin announced its commercial launch of Ciprofloxacin for Oral Suspension for the treatment of infections in the U.S. following final approval from the FDA.

RESEARCH TRIANGLE PARK – Life science giant LabCorp is expanding its presence at Parmer RTP campus. It’s also getting a new neighbor, with Duke Health Technology Solutions moving onto campus as a new tenant.
Parmer Innovation Centers, which owns the 500-acre research and development campus including 20 separate buildings of office and laboratory space, announced both developments in a release today.
We are thrilled to welcome Duke Health Technology Solutions to our Parmer RTP campus, and that LabCorp, which is based in Burlington, has decided to expand its presence there,” Bart Olds, director of asset management for Karlin Real Estate, said in a statement. The firm manages leases on campus.
“Duke is an impressive institution that has been one of the catalysts for downtown Durham’s growth. Its move to Parmer RTP is a major win for the Research Triangle Park as it reinvents itself to meet the needs of today’s employees. We look forward to our partnership with DHTS and hope to see them grow in the park, as LabCorp is now doing.”
Following its initial lease of two buildings in April 2018, LabCorp, which is based in nearby Burlington, N.C., has signed a new long-term lease for an additional 111,000 square feet at 6 Moore Drive, expanding its footprint on the Parmer RTP campus by 50 percent.
DHTS’s long-term lease is for 120,000 square feet at 12 and 14 Moore Drive, formerly occupied by Credit Suisse. This space is adjacent to the one-acre amenity park, treehouse conference center, and two-story state-of-the-art fitness center that will be completed early this fall.
Source: WRAL TechWire

Eli Lilly (NYSE: LLY ) is expected to report Q1 earnings on April 24. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Eli Lilly's revenues will grow 1.1% and EPS will expand 14.1%.
The average estimate for revenue is $5.66 billion. On the bottom line, the average EPS estimate is $1.05.
Last quarter, Eli Lilly notched revenue of $5.96 billion. GAAP reported sales were 1.5% lower than the prior-year quarter's $6.05 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at $0.85. GAAP EPS of $0.74 for Q4 were 3.9% lower than the prior-year quarter's $0.77 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 79.0%, 90 basis points better than the prior-year quarter. Operating margin was 21.3%, 90 basis points better than the prior-year quarter. Net margin was 13.9%, 30 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $22.95 billion. The average EPS estimate is $3.90.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,243 members out of 1,343 rating the stock outperform, and 100 members rating it underperform. Among 433 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 412 give Eli Lilly a green thumbs-up, and 21 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Eli Lilly is hold, with an average price target of $51.97.
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The company said it hopes the new center, which will see an investment of $30 million over the next three years, will help it tap into local expertise and also get closer to South Korean handset makers.

This week Roche Diagnostics, a Swiss-based pharmaceuticals and diagnostics company, will break ground on a $300 million expansion at its 160 acre North American headquarters located on the northeast side of Indianapolis, Indiana, with plans to create 100 jobs by 2017.
The first phase of the project is a new Learning and Development Center. The capital investment at its Indianapolis campus, located at 9115 Hague Road, will include refurbishing of the facility, adding manufacturing equipment for new diabetes care test strips and upgrading of information technology equipment to support the company’s growing diagnostics and diabetes care businesses.
The campus is home to the corporation’s North American research and development division, sales and marketing, manufacturing, distribution, information technology and other support divisions.
When the expansion was first announced Gov Mitch Daniels said; "Roche's continued growth has shown that Indiana is the epicenter for the life sciences industry and the premier state for growing an innovative business." Today, the company employs nearly 3,000 Hoosiers and more than 4,200 associates nationwide.
"As the leader in the in-vitro diagnostics industry, we're proud to be a part of the growing life sciences movement in central Indiana," said Jack Phillips, president and chief executive officer of Roche Diagnostics. "We appreciate the partnership from the city and state as we look to increase jobs and enhance our Indianapolis campus facilities. The bottom line is we’re here to stay and committed to being the best place to work in Indiana."
As an incentive, this summer, the Indiana Economic Development Corporation offered Roche Diagnostics Operations, Inc. up to $2 million in conditional tax credits and up to $300,000 in training grants based on the company’s job creation plans. These tax credits are performance-based. In addition the city of Indianapolis will consider additional property tax abatement at the request of Develop Indy.

REGIONALREPORT TriangleSize matters in solar
Founded in 2005, the company developed its technology with a $3 million grant from the U.S. Department of Energy in 2010. Since then, venture-capital firms have invested $40 million, and German electronics giant Siemens AG bought a 16% stake in June 2011. “That was a springboard to take it from a research-and-development operation to a full commercial-production company,” says Russ Kanjorski, Semprius’ vice president of business development. In September, the 65-employee company began production at a new $89.7 million, 50,000-square-foot plant in Henderson. It plans to add 100,000 square feet and increase its workforce to 250 within five years. The private company would not disclose revenue.
It supplies panels to Siemens, which announced plans in October to sell its solar business. That, Kanjorski says, doesn’t affect the conglomerate’s stake in Semprius. Still, it’s lining up other major customers. In November, it won a contract to supply solar panels for an electricity-generation demonstration project at Edwards Air Force Base in California. If the project is cost-effective, it could mean expansion to other bases. “That’s really a great opening step to build business with the Department of Defense,” Kanjorski says.
RESEARCH TRIANGLE PARK — Drug developer Biogen Idec and Japan-based pharmaceutical company Eisai will partially combine manufacturing operations here. Weston, Mass.-based Biogen Idec will lease part of Eisai’s plant to package medicine. Fifty of Eisai’s 225 RTP workers will join Biogen Idec’s more than 1,000 in RTP. Financial terms were not disclosed.
CARY — Mike Capps stepped down as president of Epic Games (“Rapid-fire Growth,” October 2012) after 10 years at the helm of the video-game developer, which makes the Gears of War franchise. He will remain on the board of directors.
RALEIGH — Highwoods Properties bought EQT Plaza, an office tower in downtown Pittsburgh, for more than $90 million. The real-estate investment trust will spend an additional $8 million on improvements. It’s the company’s second recent office-tower purchase in Steel City.
SANFORD — Core-Mark Holding Co. will pay $45 million for wholesaler J.T.

Over the past five years, the dollar index increased 26.75%. Last quarter, its 49.2% of revenue came from foreign countries. Its revenue in the U.S. increased 14% to $2.54 billion, while revenue outside the U.S. decreased 9% to $2.42.
Eli Lilly’s dividend yield of 2.55% or 0.50 cents per share quarterly can be attractive, but it is undesirable. From 1995 through 2009 (expectation of 2003-2004), Eli Lilly raised its dividend. Payouts of $0.26 quarterly in 2000 almost doubled to $0.49 in 2009. Then, the company kept its dividend payment unchanged in 2010, the same year when its net-income, EBITDA and earnings per share (EPS) reached an all-time high. About four years later (December 2014), Eli Lilly increased the dividend to $0.50 quarterly. I still don’t see a reason to buy shares of Eli Lilly. The frozen divided before the recent increase was a signal that the management did not see earnings growing. With expected patent expiration of Cymbalta, their top selling drug in 2010, it is no wonder Eli Lilly’s key financials declined and dividends stayed the same. Cymbalta sales were $5.1 billion in 2013, the year its patent expired. In 2014, its sales shrank all the way down to $1.6 billion. Loss of exclusivity for Evista in March 2014 immensely reduced Eli Lilly’s revenue rapidly. Sales decreased to $420 million in 2014, followed by $1.1 billion in 2013. Pharmaceuticals industry continues to lose exclusivities, including Eli Lilly.
In December 2015, Eli Lilly will lose a patent exclusivity for antipsychotic drug Zyprexa in Japan and for lung cancer drug Alimta in European countries and Japan. Both of the drugs combined accounted for revenue of $866.4 million in the third-quarter, or 17.5% of the total revenue. They will also lose a patent protection for the erectile dysfunction drug Cialis in 2017, which accounted for $2.29 billion of sales in 2014, or 11.68% of the total revenue.

This includes the Center for Biotechnology and Life Sciences, and a modern, state-of-the art facility for the College of Pharmacy. Rhode Islanders also recently approved a new Center for Chemical and Forensic Sciences to be located in the same area.
Science, engineering and technology companies in need of 2,500 to 20,000 square feet of space, and perhaps seeking an affiliation with the university, would make a good fit for this research and technology park, whether they are looking to relocate their operations altogether or establish an additional presence. Start-up companies formed through technology-transfer efforts at URI, as well as educational and government institutions looking to partner with the University, also would make strong tenants.
This research and technology park will focus on securing companies that do business in Rhode Island and throughout the Northeast corridor. One key selling point, beyond the obvious ties to the URI research community, is that the park would provide cost-effective real estate options to New York or the Boston metropolitan region, where laboratory rental rates can reach more than $60 a square foot.
At the same time, the URI research and technology park will have proximity to major Northeast cities, highways and a future railway system. What's more, besides potential partnerships with the University, companies residing in this research and technology park will have access to numerous other biotech, health care and pharmaceutical firms that are based -- or have large operations -- in Rhode Island, such as Amgen, CVS, Lifespan Healthcare and Rite Aid.
URI officials believe there is a great opportunity to develop science, engineering, and technology clusters around this research and technology park. For example, employment in the state's health care and life sciences community is projected to triple by 2014, according to the Milken Institute.
Companies taking space in the research and technology park will have the ability to work hand-in-hand with a University that is committed to the growth of its engineering and life sciences academic programs -- and also excels in research. The new pharmacy building and the planned Center for Chemical and Forensic Science will allow for enhanced student enrollment and faculty research in those disciplines. And, engineering has historically been one of URI's premier programs.
Another potential attraction to tenants is state funding and tax-credit programs, from sources such as the Industrial-Recreational Building Authority, the Job Creation Guaranty Program, the Rhode Island Economic Development Corp., and the Slater Technology Fund. These are geared to science, engineering, and technology companies that create high-paying jobs.

Pharmaceutical company Pfizer has announced two investments in Ireland totalling $130m.
The money will be used to upgrade and extend existing Pfizer manufacturing sites at Ringaskiddy in Cork and Grange Castle in Dublin.
$100m is being invested in the Grange Castle site in Dublin, where up to 250 construction jobs will be created. $30m is being invested in the Ringaskiddy site.
The investments, which are supported by IDA Ireland, will enable those sites to produce new drugs that are in development at the moment.
Pfizer has recently seen two multi-billion dollar revenue drugs, Lipitor and Viagra, come off patent. Replacing the revenue from treatments such as those is a key issue for the drug industry and for Ireland.
"We are seeing the benefits of the investments we've been making in our innovative core, as evidenced by recent key launches of medicines for stroke prevention, rheumatoid arthritis and cancer, as well as significant progress within our mid-to-late stage product pipeline,'' commented Dr Paul Duffy, Vice President of Pfizer.
''There is opportunity for Pfizer's Irish sites to attract the development of new medicines, while also continuing to manufacture existing, important medicines. Our Irish operations are significant and we have excellent colleagues across our sites, dedicated to the highest standards of manufacturing quality and excellence,'' he added.
"Today's announcement that Pfizer is to invest $130m is confirmation that we are taking the right steps to ensure that Ireland is a key location for companies like Pfizer to expand and grow their business,'' said the Minister for Jobs, Enterprise and Innovation Richard Bruton.
IDA Ireland's chief executive Barry O'Leary noted that since Pfizer first set up in Ireland in the 1970s, it has invested over $7 billion in developing the ''skills, scale and capability necessary to manufacture some of its leading medicines for global export from Ireland''.
Pfizer has an Irish workforce of about 3,200 people at six sites across the country who are involved in manufacturing, shared services, treasury and commercial operations.
In 2011, it announced a $200m investment in the Grange Castle site to develop a new facility to expand the manufacturing process for a new vaccine.
Many of Pfizer's leading medicines are manufactured for global export from Irish sites.

BOSTON (MarketWatch) -- Drug stocks wandered into negative territory Tuesday afternoon while shares of Eli Lilly & Co. climbed on a better-than-expected earnings report.
Shares of Lilly LLY, -0.37% rose 2% to $52.46.
Excluding various items, Eli Lilly would have reported earnings of 90 cents a share, compared with the prior year's 82 cents a share. Quarterly revenue leapt 22%, reaching $5.19 billion.
A poll of analysts by Thomson Financial pegged the drugmaker earning 89 cents a share, on revenue of $4.8 billion.
Lilly also affirmed its financial forecast for 2008 of adjusted earnings of $3.85 to $4 a share. See full story.
Sanofi-Aventis SNY, -0.06% shares were off a point at $41.12.
A House committee is expected to decide later Tuesday whether to subpoena employees at the Food and Drug Administration regarding the agency's handling of the marketing application for Sanofi's controversial antibiotic Ketek.
Biogen Idec BIIB, -0.86% shares were up 3% at $60.08.
Late Monday, activist investor Carl Icahn announced he was nominating three members to Biogen's 12-member board. Icahn said the move was in reaction to Biogen's inability to find a suitable buyer. See full story.

Perrigo Company (PRGO) to Invest $40 Million to Expand in Negev Plants
6/27/2012 7:35:56 AM
U.S. generic drugmaker Perrigo said on Thursday it will invest $40 million in Israel over the next three years to expand its research and development and production of pharmaceuticals. As part of the investment, Perrigo plans to add another 100 employees to its two plants in Israel, it said. Perrigo had expanded its workforce in Israel by 40 percent over the past three years to about 900. In recent years, Perrigo has invested 280 million shekels ($72 million) plus $30 million a year for R&D.
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BOSTON (CBS.MW) -- Pharmaceutical stocks were headed higher in early trading Wednesday, with shares of Eli Lilly LLY, +0.07% and Schering-Plough SGP, -0.32% among the upside standouts. Shares of Eli Lilly jumped $2.21, or 3.7 percent, to $61.60. The company announced that additional studies will not be needed for U.S. approval of a key new antidepressant, Cymbalta. Separately, Schering-Plough shares gained 36 cents, or 2.4 percent, to $15.60. The drugmaker said federal prosecutors had closed an investigation into Schering-Plough's manufacturing operations in Puerto Rico.

Demand for end-to-end services and increased growth are driving investments.
Following Alcami Corporation’s announcement earlier this summer that it is moving its headquarters to Research Triangle Park (RTP) in 2018, the contract development and manufacturing organization established a Center of Excellence for API development, scale-up and commercialization at its facility in Germantown, Wisconsin.
Alcami was formed from the merger of AAIPharma Services and Cambridge Major Laboratories. The company currently has approximately 50 employees in Durham and 450 in Wilimington, North Carolina, with an additional 1000 people work at sites around the world. The company has executive offices in both North Carolina locations, which will be consolidated in the new headquarters in RTP. "We are very excited about this relocation, which prominently positions Alcami in a region known for its culture of diverse expertise, cutting-edge innovation and invention," said Stephan Kutzer, President and Chief Executive Officer of Alcami. "Our stronger presence in the Triangle is necessary to meet the evolving needs of our clients, accommodate growth, recruit top talent and attract investors and new customers."
“As we continue to grow and expand into new technology platforms, for example HPAPI [Highly Potent Active Pharmaceutical Ingredients], controlled substances and biologics, we learned that this expansion has to happen in a pharmaceutical hub. We need better access to our customers; we need access to a scientific talent pool; we need access to the infrastructure of a larger city, and our customers and investors need easier access to us,” he added.
The establishment of the new Center of Excellent at its Wisconsin facility was in response to increasing demand for Alcami’s end-to-end offering. “End-to-end projects have grown to become a significant part of Alcami's project portfolio since the program’s inception in March of 2016, representing 10 percent of its total business. Approximately 62 percent of those projects originate from the Germantown site,” said Catherine Hanley, Alcami’s Sr. Director for Marketing & Corporate Communications.
Noted Kutzer: “The establishment of a Center of Excellence for API development, scale-up and commercialization in Germantown, coupled with our extensive regulatory expertise greatly strengthens the foundation of our business and allows innovators to execute all parts of API development and manufacturing in one U.S.-based location to support their launch.

Bristol-Myers Squibb to Build State-of-the-Art Campus in Lawrenceville, N.J.
New campus will be located at intersection of Princeton Pike and Interstate 295
Construction is expected to begin this fall with occupancy planned by the end of 2016
New campus will replace existing leased facilities in Plainsboro and West Windsor
Tuesday, September 23, 2014 12:00 pm EDT
"I'm excited that Bristol-Myers Squibb has decided to increase their investment in Lawrence Township"
PRINCETON, N.J. -- Bristol-Myers Squibb Company (NYSE: BMY) today announced plans to build a 650,000-square-foot office building on company-owned land at the intersection of Princeton Pike and Interstate 295 in Lawrenceville, New Jersey. Construction is expected to begin this fall and the new facility is expected to open by the end of 2016.
The new facility is part of the company's broader strategic plan to modernize its workspace to enable greater collaboration, increase technological capabilities and enhance productivity. The new facility will allow the company to consolidate operations currently located in leased office space at 777 Scudders Mill Road in Plainsboro Township and at Nassau Park Boulevard in West Windsor Township. The Princeton Pike location was purchased by Bristol-Myers Squibb from RCN Corp. in 2001.
"We are proud to expand our presence in Lawrenceville, a community that has been home to our company for more than 40 years," says chief executive officer Lamberto Andreotti. "Our new campus will create a dynamic and modern workplace to advance the important work that our employees are doing to discover, develop and deliver innovative medicines for patients with serious diseases."
The Lawrence Township Planning Board unanimously approved final site plans for the new campus in June. The new campus will be the company's second in Lawrence Township, joining its worldwide headquarters at U.S. Route 206 and Province Line Road, which opened in 1971. The company currently employs more than 2,000 people at the Route 206 campus and more than 6,000 in Central New Jersey. Once completed, as many as 2,500 people will work at the new facility.
"I'm excited that Bristol-Myers Squibb has decided to increase their investment in Lawrence Township," says Lawrence Township Mayor Cathleen Lewis.

Bloomington-based Cook Group Inc. plans to spend about $16.5 million to expand its medical research and development facility in Indianapolis in a project that could create 82 jobs over the next five years.
The expansion plans are contained in tax-abatement request that Department of Metropolitan Development staff members are recommending for approval by the Metropolitan Development Commission.
The facility at 1102 Indiana Ave. opened in 2012 and is home to Cook’s General BioTechnology and Regentec divisions.
Cook's 7.7-acre property is in the city’s 16 Tech project area—a 60-acre tract of land just north of the Indiana University School of Medicine campus that is expected to include a mix of research labs, corporate offices, business incubators, co-working spaces, apartments, retail businesses and parks.
The City-County Council voted unanimously in November to approve $75 million in bonds for infrastructure improvements to get the 16 Tech development off the ground.
“[Cook Group] is a premier company with deep roots in our state as both as a major employer and a proud corporate citizen,” Indianapolis Mayor Joe Hogsett said Tuesday in a written statement. “That’s why we are thrilled at the opportunity to explore how they can continue to flourish as part of a bioscience campus producing research and innovation that will be felt around the world.”
According to its proposal, Cook wants to spend $12.5 million to construct a 7,000-square-foot mezzanine and add new office and laboratory space. The company would create the space by expanding the existing building or by constructing a new, adjacent building at 1200 Indiana Ave. Construction could begin by the end of the year.
Cook said it would spend about $4 million on equipment for the expanded facility, including lab equipment and instruments, biological safety cabinets and material processing equipment.
The company said the expansion would help it retain 68 employees who make an average of $28.85 per hour (roughly $60,000 per year).
The additional 82 employees, who are expected to be hired by the end of 2021, would make an estimated $29.03 per hour, the company said. Almost half of the new employees aren’t expected to be hired until 2021.
The DMD is recommending Cook receive a 10-year real property tax abatement on the $12.5 million real estate project that would save the company about $927,000 (70 percent) over the abatement period.

Bloom and blight
Despite its poor results, Lilly's future may be rosy
FOR an industry that prides itself on innovation, firms with promising new drugs in development are surprisingly rare. By the end of this year, Lehman Brothers, an investment bank, expects global drugmakers to have launched 47 new drugs, a third fewer than in 1997. Many firms face yawning gaps in their pipelines of drugs at a late stage of development. Yet Eli Lilly, based in Indianapolis, is poised to launch at least four novel drugs next year, with total potential annual sales of more than $5.5 billion (see chart). This is ample reason to be optimistic about a firm that this week issued lacklustre results and another profit warning.
Much of the firm's innovative edge is attributed to Sidney Taurel, a globe-trotting European whose exotic background and urbane manner make him a far cry from the average mid-western executive. Like his fellow pharma boss, Raymond Gilmartin at Merck, Mr Taurel has avoided the industry addiction to mergers since becoming chief executive in 1998. He thinks that size can do more harm than good in pharmaceuticals, since giants take more energy to grow than leaner creatures. He says that American medicine would have to alter dramatically through, say, widespread price controls, before a sharp change in Lilly's course made sense.
At the moment, Lilly concentrates its R&D budget of more than $2 billion on tackling a few diseases promising potentially huge rewards for successful drugs, such as diabetes, osteoporosis, cancer and depression. Mr Taurel pins some of the firm's research productivity on the way it organises its various stages of research and uses medical specialists early in product development. One of its likelier prospects, Strattera, a new alternative to Ritalin for attention deficit hyperactivity disorder, was a floundering treatment for depression until some of the firm's research psychiatrists had a hunch about its hidden promise.
Lilly has roughly 140 alliances with outside firms, both bringing in promising molecules and farming out its own
Equally important is the firm's early embrace of biotechnology. Lilly is one of the few large pharma companies with an in-house expertise in protein-based pharmaceuticals that matches its strengths in more conventional drug discovery.

"This most recent gift to IU by the Lilly Endowment helps retain the state's best and brightest who are interested in studying business by ensuring that Kelley will remain among the most innovative and important business schools in the world," Robel said. "Kelley provides an extraordinary option for Indiana residents interested in studying business, and I have been particularly impressed with the school's emphasis on community engagement and outreach."
Over the past four years, Kelley students have contributed more than 61,000 hours of volunteer service to community nonprofit organizations, an implied value of over $1 million.
Facts about the building project:
- Architects: BSA LifeStructures, Indianapolis.
- Total cost of new construction plus renovation of existing facilities: $60 million.
- Sources of funding: 100 percent private gift support. No state funds or tuition revenue will be used.
- Grant management: The IU Foundation, the fundraising and investment management organization serving the university, will manage the grant.
- Current facilities: The existing building was completed in 1966. As a reference point, the average age of facilities for peer business schools is less than 10 years.
- Size of new construction: The first phase of the building project will involve a 71,000-square-foot expansion of the Kelley School's original building, which will complement the adjacent Godfrey Graduate and Executive Education Center, which was completed in 2002. Once this is finished, the second phase will begin and will involve a major renovation of the current facility. The project will add more than 20 new classrooms.
- Space highlights: In addition to increased classroom space, the renovated building will house a behavioral lab for researchers, a stock trading room with state-of-the-art informational resources and a business communications lab. The new building will also feature a variety of nonstructured learning environments -- places where students can meet between classes and work together on projects. Some of these collaboration spaces will be fashioned within the traditional classrooms to allow extensive after-hours use of the rooms.
- There will also be small meeting rooms, a new Student Collaboration Room and a Student Commons Room. This space is strategically located at the new main entry off 10th Street and will provide an opportunity for students to meet with each other, including a collaboration room for study sessions or student meetings.
- A new 2,000-square-foot multipurpose room on the third floor will be used for large gatherings.

Lonza invests $150M in Hyderabad
Switzerland's Lonza is making a $150 million investment in Genome Valley, an area outside Hyderabad. Lonza CEO Stefen Borgas said the company was attracted to Genome Valley by the talent pool, scientific culture and the infrastructure facilities.
Lonza's investment will take place in two phases. Phase I of the operation (from 2011 to 2013) will see the development of R&D labs for over 100 Lonza workers. It will include a facility for tissue/cell isolation, cell culture and expression techniques, bio services, labs for biologics and bioinformatics, among other manufacturing capabilities. Phase II of Lonza's project (from 2014 to 2015) will include expanded manufacturing capabilities and additional R&D lab capacity for biologics. Two hundred more workers will be employed at the site.
"This is one of the largest investments in recent times in the biopharmaceutical sector in India and marks the emergence of India, in general, and Genome Valley, in particular, as a preferred destination for global biopharmaceutical companies,"said B. P. Acharya, chairman and managing director of Andhra Pradesh Industrial Corporation in a statement.

* correction appended
The first tower of the East River Science Park is expected to open next winter at 29th Street and the FDR Drive in Manhattan. But so far, the developer still hasn't signed any leases with prospective tenants. WNYC's Matthew Schuerman reports.
The city and the state have already committed more than $300 million to the developer that's building the science park -- with a stated goal of making New York a hub for the bio tech industry. But with no tenants yet committed, the City Council voted last month to give millions in tax breaks for companies to move in.
Now, two sources involved in the project say, the city has almost convinced the drug company Eli Lilly to take the bait. The sources say 175 employees from Lilly's subsidiary, Imclone, may move to the Science Park -- from Lower Manhattan. Other Lilly employees from NJ and elsewhere may follow.
Update: The $300 million breaks down as follows, according to a city Industrial Development Agency analysis:
$3.5 million from waiver of the mortgage recording tax
$250 million as an exemption from the city building tax ($10 million for each of 25 years)
$12.5 million in direct contributions from the city capital budget
$8.1 million in sales tax exemptions.
There is also an additional $27 million from the state of New York for Infrastructure
* In a previous version of this story, WNYC reported that the developer still hasn’t found a company willing to rent space at the "Science Park." We should have reported the developer still hasn’t signed any leases with prospective tenants, as corrected above.

Drugmaker Eli Lilly and Co. says it will close its Elanco animal enzyme plant in Terre Haute by early 2016 as part of a consolidation push.
Lilly spokesman Ed Sagebiel tells the Tribune-Star (http://bit.ly/VoBkmk ) the Indianapolis-based company is consolidating all of its animal enzyme manufacturing to a site in Great Britain.
He says the plant closure will affect 23 plant employees, all of whom will be offered comparable positions at a Lilly plant near Clinton that employs about 500 workers..
The Terre Haute plant makes animal feed enzymes that help animals digest food more efficiently, boosting farm productivity.
Lilly purchased the Terre Haute plant in 2012. The property is along the Wabash River in an area targeted for development by an economic development and beautification group called Riverscape.

“Our newly strengthened cash position following our recent fundraisers, totaling approximately $14 million, is intended to support this pivotal trial.”

Inside, the state-of-the-art labs have been stripped of equipment, leaving only the sinks and safety hoods.
The operating tables and overhead surgical lights in the animal research area are still in place, though. And the offices and conference rooms remain furnished with new-looking desks, chairs and computers, making it appear as if the researchers who once occupied them have just stepped out for lunch.
The only part of the complex U-M doesn’t plan on using is a highly sophisticated, 250,000-square-foot molecular manufacturing plant Pfizer used in making pharmaceuticals for drug trials. The university is considering leasing the facility, which Keiser says costs about $4 million a year in utilities to operate.
Initially, research at the facilities will be clustered around two anchors: high-tech imaging and “biointerfaces,” an interdisciplinary mix of nanotechnology, microfluidics and sensors, cell and tissue engineering, and biomaterials and drug delivery. Other research areas being considered are alternative energy, cancer and cardiovascular treatment, and health services.
It’s an opportune time to recruit new faculty, because many leading universities, including California’s entire higher-education system, are struggling financially.
U-M, which attracts nearly $1 billion a year in research funding and receives generous support from a wealthy alumni base, has fared better than other universities struggling with declining financial support from strapped state governments.
“We need a critical mass of activity to get things going here,” Keiser said. “We need to move quickly to recruit faculty” before other universities get back on their feet.
Coleman and other university officials say they envision the center conducting groundbreaking basic research. And they see researchers from multiple disciplines working with private sector entrepreneurs to develop new products and therapies that create jobs and improve human health.
“I don’t know of any other university that has this kind of research space,” said Dr. Pescovitz. “If we’re successful in what we want to accomplish, I think it will be the model.”
Pescovitz, who came to Ann Arbor last year from Indiana University after the news of the Pfizer acquisition, says she would like to see the research complex about 30 percent occupied by this time next year. She is working on raising some $200 million from alumni and private donors to hire new faculty and expand research programs.
The university’s goal is to double research spending to $2 billion annually in 10 years with the help of the new facilities.
None of this was even contemplated three years ago.

Mylan to infuse USD 1 billion on capex in India
Mylan Global President and Executive Director Rajiv Malik said the company had been investing close to about USD 400 million or USD 450 million towards Capex every year and half of it in India.
HYDERABAD: Multinational drug company Mylan has said it will invest USD one billion in the next 5-6 years on Capex in India, given the importance of the country's position in world pharma supply-chain, and pitched for the government incentivising research and development activities. Mylan Global President and Executive Director Rajiv Malik said the company had been investing close to about USD 400 million or USD 450 million towards Capex every year and half of it in India.
"Half of that has been invested in India as a rule of thumb. So we have invested about $200 - $250 million in India every year. During the last six or seven years we have invested more than one billion dollars in India to upkeep and expand the capacities, he said. As long as this network is there (in India), we have no other option but continue to invest at the same pace. I would say in the next 5 to 6 years it (investment on capex) would not be less than one billion dollars, he said.
Mylan India's journey started in 2007 after it acquired Matrix laboratories and at that point in time the company was predominantly a manufacturer of active pharmaceutical ingredients (API).
Currently, Mylan has 21 facilities and 15,000 employees working in India.
Out of 44 plants, we have today, India has 21 of those. So India is the backbone of the supply chain. We do about Rs 1,000 crore in the Indian commercial market, Malik said.
He said the Indian government needed to incentivise research and development activities being undertaken by pharma companies on drug development and new chemical entities, though the country upkeeps its leadership position APIs and formulations.
According to him, during the initial few years, investments in R&D would not generate revenues for any pharma company and many Chinese companies are now focusing on the activity and competing with large corporations in USA and Europe.
That is where India needs to catch up. We will have to incentivise R&D. You incentivise and you create infrastructure for the industry to do more R&D so that it is not burdensome on companies, he opined.

Last modified: Wednesday, January 11, 2012
$33 million Lilly Endowment grant will transform IU Kelley School of Business' undergraduate program
FOR IMMEDIATE RELEASE
Jan. 11, 2012
BLOOMINGTON, Ind. -- Indiana University President Michael A. McRobbie announced today, Jan. 11, that Lilly Endowment Inc. has awarded the university a major new $33 million grant to help transform undergraduate facilities at IU's Kelley School of Business in Bloomington.
This is the largest such grant ever received by the Kelley School in its 92-year history and one of the largest ever received by Indiana University.
The new and renovated facilities will enable program innovations that will elevate the role the Kelley School plays in the economic vitality of the state and will further advance its presence among the world's elite business schools.
Combined with nearly $27 million in private gifts from alumni and strategic partners, all funding for the $60 million renovation and expansion of the 46-year-old, 140,000-square-foot original building is in place.
Planning for the project began in 2005, and trustees voted in December to begin construction this spring with the building's expansion, followed by renovation of the existing building -- one floor at a time. Both phases of the project are expected to be completed within three years.
A focus of the building project will be to create facilities that will enable a technology-mediated experience, allowing Kelley students to interact with companies from across the state and around the world on actual business projects.
The Kelley School also needs more classroom space, as current facilities are 100 percent utilized and the school must routinely turn away many high-quality students each year because of capacity constraints.
"Lilly Endowment's grant for undergraduate business education is another example of its extraordinarily generous legacy of supporting activities at the university that benefit the people of Indiana and beyond, including its past support for student scholarships, our efforts in genomics and neurosciences, in arts and humanities, in information technology, in philanthropy, in economic development and for the Jacobs School of Music, the Maurer School of Law and our libraries," McRobbie said.
"With this support, the Kelley School will continue as one of the world's leaders in business education and help Indiana to develop and retain the best and brightest minds who will drive our state's economy in the future," McRobbie added. "We are indeed grateful for Lilly Endowment's continued generosity and its commitment to advancing IU and serving the people of Indiana."

Eli Lilly confirms $8 billion takeover of Loxo Oncology
Biopharmaceutical giant Eli Lilly & Co. has agreed to buy Loxo Oncology Inc. in a deal valued at $8 billion.
Eli Lilly (NYSE: LLY) said it will pay $235 a share in cash for Stamford, Connecticut-based Loxo (NASDAQ: LOXO). That's a 68 percent premium from Loxo's closing price on Friday (h/t the WSJ).
Loxo is expected to bolster Eli Lilly's oncology-treatment portfolio. It also aims to treat patients that have cancer from single-gene abnormalities.
"We are gratified that Lilly ha...

Raleigh investment firm Triangle Capital posted a 53 percent increase in net investment income in the third quarter.
Triangle Capital reported after the markets closed Wednesday that it generated net investment income of $15.9 million, up from $10.4 million a year ago. Net investment income on a per-share basis was 58 cents, versus 52 cents a year ago, due to an increase in the number of shares outstanding resulting from a secondary offering.
The company's earnings benefitted from its constantly expanding investment portfolio.Triangle Capital makes loans to mid-sized, privately held businesses and also takes a minority stake in those businesses.
Triangle makes loans to mid-sized, privately held businesses and also takes a minority ownership stake in those businesses. During the third quarter, the company made eight investments that totaled $71.9 million.
As of Sept. 30 it had $60.1 million in cash, which doesn't include the proceeds from a recent $80.5 million bond offering.
Earlier Wednesday, Triangle Capital shares fell $1.02 to close at $24.63. Its shares have risen 29 percent this year.

VIGO COUNTY, Ind. (WTWO/WAWV) — A unanimous vote has approved a company’s bid for a project expected to bring hundreds of jobs and a $1 billion-plus investment to Vigo County.
The Vigo County Redevelopment Commission approved the bid during a meeting Tuesday afternoon. The $1.5 billion investment will come from an Oregon-based company called ENTEK.
The company will reportedly purchase 340 acres of the former Pfizer property in the Vigo County Industrial Park II.
Steve Witt, the President of the Terre Haute Economic Development Corporation, said he believes it’s a major milestone for the community.
“It’s very gratifying having acquired that property, the county, back in 2012 or so. Having first Saturn Petcare move into the former Pfizer building, and now, having half the acreage occupied by this new company,” he said. “It’s very gratifying but also very exciting as well. We’re thrilled for the community and what this will bring down the road.”
ENTEK CEO Larry Keith said the facility should create about 640 jobs for area residents. He added that he wants the first production lines to be open in 2025 with the facility fully functional by 2027.
He said the company received a $200 million grant from the Department of Energy, and they were in the process of applying for a $900 million loan as well. The company has sites in countries like England, Japan and China– but he said this investment represented the largest investment they had made in a community.
“It will feel really good once we have the loan and the building starts to go up out there,” he said. “It’s exciting for us. We made the announcement well before we knew there was a grant program that was going to be announced, so we already had this in the works.”
ENTEK will offer a wide variety of jobs, according to Keith.
“A whole array of things. There will be maintenance people, there will be engineering, there will be operations so people who run the production line and supply chain, HR, just the whole gambit of everything it takes to run a big plant,” he said.
Keith said the company’s main focus is developing battery separators, and this site will help accomplish that. As for why they chose Vigo County, Witt said the industrial park had all the things they needed for a facility of this magnitude.

MORRISVILLE, N.C. (WNCN) — A nearly-$38 million investment that will add 550 jobs is being made in Wake County.
INC Research broke ground on their new global headquarters in Morrisville on Monday.
The company will consolidate their two local offices into one at Perimeter Park.
INC Research conducts clinical trials for pharmaceutical and biotechnology companies around the world.
“A talented workforce is really quite key to INC Research. There are highly qualified clinical research professionals in the Triangle and throughout the state of North Carolina, “ Chris Gaenzle, INC Research’s chief administrative officer told CBS North Carolina.
Construction is expected to take about a year-and-a-half.

“What you don’t see there (on the 2007 scorecard) is the Eastman announcement,” Venable said of Eastman Chemical Co.’s plans to invest $1.3 billion in redevelopment at its Kingsport operation.
He said NETWORKS, the city and the Kingsport Economic Development Board worked with Eastman on that project but that including it would have skewed the capital portion of the scorecard.
Eastman in mid-2007 announced it will invest more than $1.3 billion over five years to upgrade technology, infrastructure and production capabilities at the company’s Kingsport manufacturing facility.
Called “Project Reinvest,” the plan calls for the company to spend an average of $265 million annually and will potentially lay the groundwork for future capital investments.
The project will also initiate a partnership between Eastman and Northeast State Technical Community College to develop curricula and implement training programs for a new generation of mechanics, lab analysts and chemical operators.

- $18,500 to Halifax County for the Enfield Industrial Park to complete eligible due diligence activities such as environmental assessments, archaeological analyses, and mapping.
- $50,000 to Nash County for the Middlesex Corporate Centre to complete eligible due diligence activities such as environmental assessments, archaeological analyses, and mapping.
- $17,500 to the Foundation for Duplin County Industrial and Business Development for the Duplin County AirPark to complete eligible due diligence activities such as environmental assessments, archaeological analyses, and mapping.
- $632,412 to Alexander County Economic Development Corporation for grading and erosion control for a building pad.
- $1 million to East Yancey Water and Sewer District to provide roughly 11,000 linear feet of water main extension and grading at a new industrial park. The project will support the location of Little Leaf Farms that will create 100 jobs at a $53,700 annual average wage, $86 million in private investment, and another potential site at this new park.
- $965,830 to the City of Fayetteville to upgrade a sewer lift station and construct a force main, and some due diligence activities for 172.13 acres located at Fayetteville Regional Airport.
- $252,720 to the Town of Louisburg for clearing, grubbing, and rough grading at Louisburg Commerce Park, an approximately 50-acre site that recently expanded.
- $952,000 to McDowell County for clearing and grubbing, and rough grading of approximately 50 percent of the 413-acre Universal Technology Park site.
- $992,000 to Rockingham County for clearing, grubbing, and rough grading of a 33-acre lot within Reidsville Industrial Park.
Open Grants Program
- $95,000 to McDowell Economic Development Association, Inc. (MEDA) to help extend water and sewer infrastructure to support expansion of an existing company in McDowell County. The company will create 25 new jobs that will pay wages of $42,146, which is above the county average.
- $40 million to the North Carolina Department of Transportation for public road infrastructure to support the location of Toyota’s battery manufacturing operations. This award will ensure that there would be sufficient road infrastructure to help support the creation of 1,750 new jobs in Randolph County at the Greensboro-Randolph Megasite.

The company expects to create 73 jobs and invest $4 million in the overall project, while 53 jobs and a $577,901 investment are tied to this grant.
City of Wilson (Wilson County): A $150,000 grant will support the reuse of a 2,965-square-foot building, a former drug store. North State Consulting LLC, will make this location its headquarters office. The company, which specializes in working with technology companies to help bring their products to market, expects to create 18 jobs and invest $270,000 in this project.
Existing Business Building Category
Cleveland County: A $360,000 grant will support the expansion of a building in Shelby that is occupied by IMC Metals America. The company, a smelter of copper to be used for manufacturing parts, plans to add 30,000 sq. ft. to the existing facility. Overall, the company plans to create 46 jobs.
City of Lexington (Davidson County): A $200,000 grant will support the renovation of a 602,559-sq.-ft. building in the Linwood community that is occupied by Haylard North Carolina. The company manufactures surgical and infection prevention products, and this renovation will allow the company to add a new line to produce N95 face-masks. The project is set to create 22 jobs and attract $3,009,000 in private investment.
Lenoir County: A $75,000 grant will support the expansion of a building in Kinston. Additive America, a contract manufacturer that produces 3D-printed prosthetics and personal protective equipment, plans to add 5,000 sq. ft. to the existing facility to help fulfill large client orders. The company expects to add nine jobs and invest $1,245,000 in this project.
Onslow County: A $230,000 grant will support the renovation of a 191,000-sq.-ft. building in Hubert that is occupied by Waterline Systems. The company, which manufactures welded aluminum and steel boats and barges, plans to expand its operations at this location, creating an expected 23 jobs while investing $289,900 in the project.
Robeson County: A $500,000 grant will support the expansion of a building in Pembroke that is occupied by Steven Roberts Original Desserts. The desserts manufacturer plans to add 29,000 sq. ft. to the existing facility.

The additional investment will be paid in four equal instalments of US$5 million, each three months apart.Read full media release - pdf

Merck plans to invest US$29 million (€28 million) to open two new GMP-grade mRNA drug substance manufacturing sites in Darmstadt and Hamburg, Germany.
The new manufacturing facilities will offer a comprehensive solution for every critical facet of mRNA development, production, and market deployment, encompassing not only the creation of mRNA products but also their rigorous testing.
This encompasses specialised analytical development and biosafety testing explicitly tailored for mRNA technologies, ensuring the highest quality and safety standards are met.
These state-of-the-art facilities play a crucial role in an ongoing investment programme designed at advancing mRNA technologies. In addition, this will also generate 75 new employment opportunities. This integrated approach simplifies processes and reduces complexities.
Type New Facility
Budget US$29 million (€28 million)

Investors helping to develop the Newcastle Helix science and business park in Tyneside are ready to pump a further £60m into the site.
L&G first pledged £65m to invest in the science park in 2016. The 24-acre center is a partnership between Newcastle City Council, Legal & General and Newcastle University, with the partners hoping it will help create thousands of jobs, prime office and research space, and hundreds of new homes .
Six years after financing the construction of The Lumen and Spark office buildings – at the time the largest real estate deal in the city in decades – the institutional investor is keen to support the further development of the site, starting with a 60 million-rent residential complex consisting of two towers. There is also the potential to support additional buildings at Helix, including potential office space and research space, depending on what is needed to bring the Council and University vision to life.
Read more: Find more business news from the North East here
Legal & General Retirement Institutional (LGRI) CEO Andrew Kail announced the additional investment during a visit to the city with Newcastle-born Aysha Patel, LGRI’s Origination Director, and Ben Rodgers, Head of Regeneration, to meet members of the Meeting Newcastle City Council and Heads of Department at the University of Newcastle to see first-hand the impact of the Group’s investments to date.
He said: “The great thing about this place is that it feels like much more than a collection of buildings. It was really nice to see the buildings and how they have more connections to the west end of town. It’s been great to see it come alive as a community and place – and there’s still a lot more to do. The site still has a long way to go, but being on that journey and checking it out is really what today was all about.
“Our primary role is to develop the key properties that you see and also those that are being built for rent. One of the great things about Legal & General is that we have a wide range of investments and interests that we do for ourselves and our clients.
“If you think about what’s happening at the Biosphere, that’s exactly the kind of investment we’re excited to make. There are companies there investing in sectors like healthcare technology that are incredibly interesting to us. That is one of the advantages of the partnership. We are on site, we are not just outside capital that came in with subsidies and then disappeared again.

The Central Campus project includes the construction of a new Learning Resource Center to support more than 3,500 students and critical middle-skill occupational programs.
New Charlotte Mecklenburg Main Library — $65 million
The new Main Library will be a modern facility with meeting and community spaces, and state of the art technology designed to promote learning and innovation. The facility will be the cornerstone of the North Tryon Vision Plan, a partnership with Bank of America, the Charlotte Housing Authority and the City of Charlotte to revitalize a six-acre, two-block section of the North Tryon Street corridor.
New Community Resource Centers, Government District Renovations — $170.8 million
The County’s strategy to improve health and human services program delivery includes building six new Community Resource Centers (CRC) in locations where residents need them most.
The first Resource Center, located at the Valerie C. Woodard Center on Freedom Drive, is under construction now and will open in 2018. The recommended Capital Improvement Plan continues the build-out of the CRC implementation plan for locations in the east and southwest parts of the County by 2023, and funding for land acquisition and design for more CRCs in the west and northeast in the future, Diorio said.
The CIP also includes needed renovations to the many facilities in the government district including the County Courts and Office Building, the Johnson Building, and the Charlotte Mecklenburg Government Center.
Park & Recreation — $277 million
Funding for Park and Recreation projects continues the County’s commitment to health and wellness, with a focus on greenway expansion and the construction of two new regional recreation centers: the Eastway Regional Recreation Center and the Northern Towns Regional Recreation Center. The plan also provides for renovations for the David B. Waymer Center and land acquisition for future use.
During this CIP cycle, Diorio said, the County will achieve one of its highest priorities: completing the Little Sugar Creek Greenway to the South Carolina state line. Seven greenway projects are included in the plan.
Discovery Place Nature Museum — $16 million
Built in 1951, Discovery Place Nature Museum (formerly known as the Charlotte Nature Museum) offers visitors the chance to get close to wildlife and experience nature through hands-on programming, exhibits, and classes. The building is in dire need of updating, Diorio said, and the quality of museum exhibits and interactive learning has rendered it obsolete.