Lilly Invests $20 Million in Novast Labs of China

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Lilly Invests $20 Million in Novast Labs of China

publication date: Jun 12, 2012

Eli Lilly will invest an additional $20 million in Novast Laboratories, Ltd., a Nantong company that makes generic and specialty pharmaceuticals. In 2009, Lilly allocated a part of its $100 million China VC fund to Novast. With the new investment, Novast and Lilly will together develop a portfolio of branded generic drugs for the China market. In the future, Novast may manufacture the innovative drugs that Lilly develops for China and other Asian countries. More details....

Stock Symbol: (NYSE: LLY)

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