INDIANAPOLIS, Nov. 19, 2013 /PRNewswire/ -- Following is a statement from John C. Lechleiter, Ph.D., chairman and chief executive officer of Eli Lilly and Company (NYSE: LLY), on the company's investment of $7.5 million toward startup of the Indiana Biosciences Research Institute.
"Today's announcement represents a significant investment by Lilly in the future of Indiana and in the future of biosciences research. Each year in Indiana, billions of dollars are invested in research and development to advance medical innovation. This institute will help Indiana attract additional global talent and will nurture partnerships across the state and across the country - keeping more research dollars in Indiana and attracting more federal research funds to our state.
"In the last decade, Indiana has come of age as a recognized leader in the life sciences - with demonstrated capabilities in biopharmaceuticals, medical devices, and diagnostics, as well as in the areas of animal health and crop sciences. The research institute will fuel Indiana's economy and will underscore the state's position as a life sciences leader. The bio-landscape of Indiana is fertile ground for the Institute, and Lilly is proud to be a part of it.
"The IBRI is an R&D model that will help us address some of our most pressing medical needs. Despite important advances in recent years, diseases such as diabetes continue to affect our citizens at alarming rates. By pulling together the best minds for collaborative thinking and research, the new institute will help move us closer to solving some of the world's most difficult challenges in health and nutrition."
About Eli Lilly and Company
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. C-LLY
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SOURCE Eli Lilly and Company