Indianapolis-based pharmaceutical giant Eli Lilly lly laid out an ambitious R&D agenda for launching up to 20 new drugs by 2023 during an investor presentation in May.
Eli said it hopes to add a significant number of uses for its existing therapies in order to bolster those drugs’ market strength. They will focus on key franchises such as diabetes, oncology, and neurodegenerative diseases, such as Alzheimer’s. In addition, they will add immunology to their core therapeutic spaces.
The pharma giant also had to ditch one of its pipeline hopefuls, a cardiovascular treatment meant to boost -good- HDL cholesterol, after determining that it would likely be ineffective for patients.
An outsize share of Lilly’s revenues have flowed from drugs that are more than 10 years old, according to life sciences analytics firm EP Vantage.
The company also recently bought up 30,000 square feet of laboratory space in New York City in order to assist its R&D ambitions by bringing it closer to local academic institutions and research labs.