Jubilant Organosys and Lilly to form JV
Jubilant Organosys and Eli Lilly and Company announced the formation of joint venture focussed on providing drug development services exclusively to molecules partnered by the two companies, reports HT Correspondent.business Updated: Oct 03, 2008 22:25 IST
Jubilant Organosys and Eli Lilly and Company on Friday announced the formation of an equally owned joint venture in India focussed on providing drug development services exclusively to molecules partnered by the two companies.
The joint venture will soon commence its operations from its base in Bangalore.
A team of experts will manage the venture focussing on pre-clinical molecules and their development through clinical testing phases, before returning successful assets for further development. Jubilant Organosys is the largest custom research and manufacturing services and drug discovery company of India. Eli Lilly is headquartered in the US.
Shyam S Bhartia, chairman, and Hari S Bhartia, co-chairman of Jubilant Organosys, said: “This unique partnership will be a pioneering effort in leveraging the expertise of a global pharmaceutical company like Lilly with the emerging development capabilities of Jubilant, in accelerating drug development to provide patients with affordable health care in areas of unmet medical needs.”
Robert Armstrong, vice president at Lilly said the deal will address important medical needs for patients.