Jubilant Organosys and Eli Lilly have entered into an agreement to form an equally-owned joint venture in India that will focus on providing drug development services exclusively to Jubilant- and Lilly-partnered molecules.
The joint venture is to be modeled after Lilly's early- stage development division. Chorus, which provides fast and capable drug development for Lilly exclusively through the utilization of external contract companies.
The joint venture, to be based out of Bangalore, is expected to begin operations in the fall of 2008. The joint venture will be managed by an independent team of drug development experts and will focus on preclinical molecules and their development through phase II clinical testing, before returning successful assets to the sponsors for further development.
The company made this announcement after the trading hours on Friday, 03 October 2008.
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