The scholarships will prioritize students from underrepresented groups, who have overcome disadvantages or who are the first generation to attend university
Research collaboration aims to develop new ways to deliver therapies to patients
INDIANAPOLIS and WEST LAFAYETTE, Ind. – Purdue University and Eli Lilly and Company (NYSE: LLY) are establishing an innovative new pharmaceutical manufacturing scholarship program and have renewed their strategic research collaboration in a series of measures that will broaden their impact in Indiana and will improve lives globally. Lilly has committed $92.5 million to the West Lafayette campus for these two programs.
Lilly’s commitment includes $42.5 million over 10 years to fund pharmaceutical manufacturing scholarships for incoming Purdue undergraduates, providing 75-100 talented students each year full tuition with a guaranteed internship or co-op at Lilly and a promise of coordinated interaction with company leaders. Priority access to the new Lilly Scholars program will be given to undergraduates who are underrepresented in Purdue’s student population, who have overcome socioeconomic or educational disadvantage, or who are part of the first generation of their family to attend. the university.
“Lilly is one of Purdue’s most important partners, and this latest commitment reaffirms our long-standing collaboration. Through these collaborations, Lilly and Purdue are helping to build an essential pharmaceutical ecosystem in the heartland,” said Purdue Chairman Mitch Daniels. “We have a company that is committed to advancing research and nurturing talent. Lilly invests in students early in their education rather than waiting until late in their college career – connecting with students before they even arrive on campus.
The Lilly Scholars program will provide participating students with privileged access and opportunities to compete for a position in the company upon graduation. The first scholarships will be offered for fall 2023.
Purdue and Lilly have a historic relationship, dating back to the organizations founding years. The organizations entered into a new strategic research collaboration in 2017, funded by an initial commitment of $50 million from Lilly. These collaborative research efforts have helped advance understanding of the physiology of drug delivery and develop technologies to improve pharmaceutical delivery for better patient outcomes and experiences. Lilly and Purdue are now expanding this research collaboration, signing a new $50 million framework agreement that extends the work for another five years, with a research focus on genetic medicine, intrathecal delivery and drug delivery. nanoparticle drugs.
“As the number of people who stand to benefit from our innovative medicines continues to grow, we are investing to advance critical research and build a more diverse talent pool in Indiana. Together with Purdue, we can help keep our state’s best and brightest in Indiana, strengthening Lilly’s ability to improve the lives of millions of people,” said David A. Ricks, President and CEO of Lilly. . “As a Purdue graduate, I’m proud of the success the university has built and even prouder to see Lilly and Purdue teaming up to make both institutions better and better.”
Basic research from Purdue faculty helps Lilly accelerate the development of technologies and pharmaceuticals, improving the pace of getting therapies to the patients who need them. Over the past eight years, Lilly has introduced 18 new medicines to improve the lives of people with diseases like diabetes and cancer. The company aims to introduce four additional potential new drugs over the next 18 months.
“Purdue’s approach to interdisciplinary research with Lilly is driven by an impact-oriented mindset aimed at improving the lives of patients. Our collaboration extends from training and development to research and state-of-the-art facilities,” said Theresa Mayer, executive vice president of Purdue University. chair for research and collaboration. “The extension of our agreement will continue to provide exceptional opportunities for faculty members and hundreds of graduate students from across the country to work side-by-side with colleagues from this leading pharmaceutical company. »
Lilly and Purdue have made strategic commitments in recent years to strengthen expertise and programs in bioscience areas, including pharmaceutical manufacturing.
Earlier this year, Purdue established the William D. Young Institute for Advanced Manufacturing of Pharmaceuticals, an interdisciplinary organization focused on advancing pharmaceutical manufacturing to reduce costs and expand access to new research-derived drugs. biotechnology. This institute follows a $250 million investment in life sciences as part of the Purdue Moves strategic plan, which resulted in the creation of three interdisciplinary institutes across the university: the Purdue Institutes of Drug Discovery; Inflammation, Immunology and Infectious Diseases; and integrative neuroscience, which has helped attract top academic researchers to critical research areas. Purdue has also invested in state-of-the-art facilities, including the Bindley Bioscience Center, which offers a unique infrastructure to support interdisciplinary research.
Over the past five years, Lilly has committed more than $6 billion to pharmaceutical manufacturing globally. This includes $2.1 billion and up to 500 new jobs at the LEAP technology park in Boone County, Indiana, announced in May 2022, and up to 1,500 additional jobs during construction of the site.
“Collaborations between academia and industry are essential for innovation to bring therapies to patients as quickly as possible,” said Edgardo Hernandez, executive vice president and president of manufacturing operations at Lilly. “Along with the expansion of our footprint in Indiana, these initiatives with Purdue will help bring in a highly skilled pipeline of diverse talent and enhance our manufacturing capability to deliver medicines to patients around the world.”
As Lilly and Purdue are working together on new programs, experiential learning, and certificate and diploma programs in pharmaceutical manufacturing, they will help continue to grow pharmaceutical manufacturing in Indiana and extend Purdue’s talent pool to the business with students supported by the new scholarship program. Each year, Lilly hires Purdue graduates in fields such as engineering, sales, finance, human resources, marketing, procurement, supply chain and more. In fact, Lilly employs nearly 2,500 Purdue graduates – more than any other university.
“These commitments will better position Purdue to recruit the best, brightest and most diverse students possible,” said Kristina Wong Davis, vice president of enrollment management at Purdue.
Lilly combines caring and discovery to create medicines that improve the lives of people around the world. We’ve been at the forefront of life-changing discoveries for nearly 150 years, and today our medicines help more than 47 million people around the world. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world’s most important health problems, redefine diabetes care, treat obesity and reducing its most devastating long-term effects, advancing the fight against Alzheimer’s disease, providing solutions to some of the most debilitating immune system disorders, and turning the most difficult-to-treat cancers into manageable diseases. With every step towards a healthier world, we are driven by one thing: to make life better for millions more people. This includes conducting innovative clinical trials that reflect the diversity of our world and ensuring our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/newsroom or follow us on Facebook, Instagram, Twitter and LinkedIn.
About Purdue University
Purdue University is a leading public research institution that develops practical solutions to today’s toughest challenges. Ranked in each of the past five years as one of the 10 most innovative universities in the United States by US News & World Report, Purdue delivers groundbreaking research and breakthrough discoveries. Committed to hands-on, online, real-world learning, Purdue provides transformative education for all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, allowing more students than ever to graduate debt-free. Learn how Purdue never stops in the persistent pursuit of the next giant leap at https://stories.purdue.edu
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) regarding Lilly’s recent collaborations and engagements with Purdue and reflects Lilly’s current beliefs and expectations. However, there is no guarantee that these collaborations and engagements will achieve the desired objectives. For additional information about risks and uncertainties relating to Lilly’s business that could cause actual results to differ from Lilly’s expectations, see Forms 10-K and 10-Q filed by Lilly with the Securities and Exchange. United States Commission. Except as required by law, Lilly undertakes no obligation to update forward-looking statements to reflect events after the date of this release.
Media contacts: Molly McCully, [email protected]; (317) 478-5423
Brian Huchel, [email protected]