Eli Lilly Opens State-of-the-Art R&D Center in Boston

Eli Lilly is strengthening its position in the United States. The American pharmaceutical company has opened the Lilly Seaport Innovation Center (LSC), a state-of-the-art research and development center in Boston’s seaport. Eli Lilly wants the facility to become a hub for genetic medicines, as well as for the research of new drug targets to create drugs aimed at various pathological conditions, such as diabetes, obesity or chronic pain, among others.

LSC will feature labs and offices and will house the first East Coast location of Lilly Gateway Labs , a world-class innovation hub that seeks to connect young biotech companies with Eli Lilly’s expertise. The initiative first opened in December 2019 in San Francisco and is expected to expand across San Diego as well.

The new facility spans 346,000 square feet (32,144.5 square meters) on twelve floors and will house approximately 500 Lilly scientists and researchers, as well as 200 people from Lilly Gateway Labs companies.

Eli Lilly closed the first half of 2024 earning 68% more than in 2023, up to $5.2 billion

Lilly Research Laboratories and Lilly Immunology Chief Scientific Officer and President Daniel Skovronsky said, “The opening of LSC expands Eli Lilly’s long-standing presence in the Boston area; we are committed to being supportive neighbors in this hub of innovation and research, collaborating with leading institutions and emerging talent to continue to deliver transformative medicine to the people who need it most.”

Eli Lilly has concluded the first half of the year with double-digit increases in both its profits and its turnover. Between January and June, the group earned 68% more, reaching $5.2 billion.

Eli Lilly’s revenues for the first half of the year amounted to $20.07 billion, representing a 31% increase over the same period last year. The group attributed the good figures to the revenues generated by certain medicines such as Mounjaro, which totalled revenues of $4.89 billion in the first six months, compared to $1.54 billion in the same period of the previous year.

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(Featured image by Chokniti Khongchum via Pexels)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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