Did you know?

ChinaBio® Group is a consulting and advisory firm helping life science companies and investors achieve success in China. ChinaBio works with U.S., European and APAC companies and investors seeking partnerships, acquisitions, novel technologies and funding in China.  

Learn more >>

Free Newsletter

Have the latest stories on China's life science industry delivered to your inbox daily or weekly - free!

See preview >>

  Email address:
   

Lilly Announces Plans to Close its Shanghai R&D Center

publication date: Sep 7, 2017

In a letter to China employees, Andrew Hodge, President, Lilly China, notified staff members that Lilly will close down its Shanghai R&D center. The center opened in 2012 and is located in Zhangjiang Hi-Tech Park. Dedicated to diabetes research, it currently has 200 employees. The closing is part of a larger global Lilly restructuring in which 3,500 Lilly employees will leave the company. In the last year, two of Lilly's late-stage pipeline drugs suffered setbacks. To pare down its development costs, the company plans to cut seven Phase II candidates and partner another ten mid-stage cancer drugs. Lilly will prioritize development of seven promising candidates. More details....

Stock Symbol: (NYSE: LLY)

Share this with colleagues:


This article is available for purchase - please click here for details.

Sorry this page is available to subscribers only.
If you're not a subscriber why not subscribe today?

If you are already a subscriber, please login.

If you believe you should have received this message in error, please contact us.


 

To gain access to the members only content click here to subscribe.

You will be given immediate access to premium content on the site.

Upcoming Events

ChinaBio® Partnering Forum
September 10–11, 2024 | Shanghai, China
Register here

BIO-Europe®
November 4–6, 2024 | Stockholm, Sweden
Save €900 before September 13!
Register here

Biotech Showcase™
January 13–15, 2025 | San Francisco, CA
Save $600 before September 27!
Other Relevant Events

Antibody Engineering & Therapeutics Asia
October 21–23, 2024 | Kyoto, Japan
Save 30% with code CHINABIO30!
Register here