Eli Lilly and Company, a pharmaceutical giant, has opened the Lilly Biotechnology Center in San Diego.
Eli Lilly and Company is based in Indianapolis and is one of the world's best known pharmaceutical companies. Top executives, including Lilly's CEO, came to San Diego to dedicate the company's new biotech center. The building is located near UCSD, and will house 200 scientists working on medicines that target cancer, diabetes and autoimmune diseases. Steve Paul, president of Lilly Research Laboratories, said the company has a goal to introduce at least one biological medicine every year.
"It's an aggressive target but we're well on our way and we're committed to it," said Paul. "And we're counting on our San Diego biotechnology center to get us there."
Industry analysts say Lilly's presence in San Diego creates opportunities for smaller companies that need to partner with larger biotechs to market and distribute their discoveries.
