Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
The West Lafayette biotech firm's stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.
The work-play-live district for innovation and entrepreneurship being developed on the near-northwest side will include research labs, apartments and bicycle trails—which could help to attract young workers.
Its $1.5 million investment is expected to help B2S Life Sciences more than double its staff and grow its client base, which includes contract research groups, pharmaceutical firms and biotech startups.
The once-booming toxicology business struggled for years under declining revenue and huge debts before being acquired last year by a Texas private equity firm. Its Park Fletcher headquarters building remains empty.