HQ Team
November 2, 2022: Eli Lilly and Company and Purdue University will create a new pharmaceutical manufacturing scholarship program and have renewed their strategic research collaboration, with the Indiana-based firm committing $50 million.
The organizations had entered into a strategic research collaboration in 2017, funded by an initial $50 million from Lilly.
Lilly and Purdue are now expanding that research collaboration, signing a new $50 million “master agreement” that extends the work for another five years, with a research focus on genetic medicine, intrathecal delivery and nanoparticle drug delivery. The US company’s commitment includes $42.5 million over ten years to fund pharmaceutical manufacturing scholarships.
The collaborative research efforts have helped advance the understanding of the physiology of drug delivery and develop technologies to improve the delivery of drugs.
Priority access
The Lilly Scholars program will give priority access to undergraduate students who are underrepresented in Purdue’s student population, according to a university statement.
Students who have overcome socioeconomic or educational disadvantages or are among the first generation in their family to attend college will get the preferred access.
“Through these collaborations, Lilly and Purdue are helping to build a critical pharmaceutical ecosystem in the heartland,” said Purdue President Mitch Daniels.
The Lilly Scholars program will provide participating students with preferred access and opportunities to compete for a role at the company following graduation. The program will offer the first scholarships in the fall of 2023.
18 new medicines
The research by Purdue faculty helps Lilly expedite the development of technologies and pharmaceuticals, improving the pace of getting therapies to patients who need them.
Over the last eight years, Lilly has introduced 18 new medicines for diabetes and cancer. The company aims to introduce four additional potential new drugs in the next 18 months.
Lilly has committed over $6 billion in pharmaceutical manufacturing globally over the last five years.
Every year, Lilly hires Purdue graduates in engineering, sales, finance, human resources, marketing, procurement and supply chain. Lilly employs nearly 2,500 Purdue graduates – more than from any other university. in the US, according to the statement.