Lilly-Novast Partnership to Build China Manufacturing Facility
publication date: Mar 5, 2014
The Eli Lilly-Novast Laboratories partnership began expanding a manufacturing facility in Nantong, China that will produce a line of Lilly branded generics for the China market. The two companies formed a strategic partnership in 2012 when Lilly invested $20 million in Novast, its second investment in the company. The expansion, which will cost $60-$70 million, will add 260,000 square feet of manufacturing space. It will produce 2.2 billion units of sustained release and solid oral dosage pharmaceuticals annually. More details...
Stock Symbol: (NYSE: LLY)
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