SAN DIEGO — Riding high on the success of its blockbuster weight loss drug, Eli Lilly now faces a new challenge: proving it can continue its momentum.
The Indiana-based firm, which has a market cap of around $685 billion, the largest in the industry, is looking to do that through advancing its own pipeline of medicines and supporting fledgling biotechs. Last week, Lilly launched its newest Gateway Labs site in San Diego, one of a handful of incubators the company has set up in the U.S. and China to provide biotech startups with access to space, equipment, and technical expertise.
STAT sat down with Lilly’s chief scientific officer, Daniel Skovronsky, who was in town for the opening and made clear that the site’s launch is as much about supporting the biotech ecosystem as it is about building relationships between startups and the pharma giant that could lead to future deals.
