Lilly to Close Singapore R&D Center This Year

In a surprising move, Eli Lilly said it will close its Singapore Center for Drug Discovery by the end of 2010. Established in 2002, the center had 130 employees. In 2008, Lilly committed another $150 million in 2008 to expand the operation. Singapore’s on-going projects will be transferred to Lilly’s drug discovery labs at its Indianapolis home base. More details.... Stock Symbol: (NYSE: LLY)