IT firm HCL Technologies and pharmaceutical company Eli Lilly on Thursday entered into a partnership for developing technologies and improving operational efficiencies to enhance the latter's global competitiveness.
They came together to open a Co-innovation Lab in Singapore, HCL said in a filing to the Bombay Stock Exchange.
However, the company did not disclose the financial details of the partnership.
This collaboration will accelerate the process of bringing ideas to fruition by leveraging this co-innovation lab and HCL's wider collaborative ecosystem, using new disruptive technologies and solutions, the filing added.
"HCL's domain expertise in the pharmaceutical industry and excellent track record in IT transformation make them an ideal partner on this journey, which we believe will ultimately bring benefits to the patients we serve," Eli Lilly Senior Vice-President and Chief Information Officer Michael C Heim said.
The two companies will establish a collaborative framework for incubating innovative ideas and concepts based on business needs. They will track technology trends and create Proof of Concept (PoCs) for applied solutions frameworks.
"Learning will be taken from multiple industries, including banking, government, insurance, manufacturing, telecom, as well as pharmaceuticals," the release added.
{{/usCountry}}"Learning will be taken from multiple industries, including banking, government, insurance, manufacturing, telecom, as well as pharmaceuticals," the release added.
{{/usCountry}}HCL will leverage technologies such as cloud computing, automation, business analytics and enterprise mobility, combined with its domain expertise in numerous areas, to create innovative applications and solutions to support Eli Lilly's global operations.
The co-innovation lab will help the two companies to extend the scale and scope of external partnerships and alliances.
Shares of HCL Tech were trading at Rs 492 on the BSE, down 0.44% from the previous close.