India has biotech talent and know-how, but funding ecosystem lags: Lilly CEO
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Ricks said India has great biotech talent but lacks a strong funding ecosystem.
- ✓The company plans to launch four new weight-loss drugs in four years.
- ✓Ricks noted, "India’s biotech ecosystem holds tremendous promise," and said the firm is open to partnerships with local Indian companies.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
Eli Lilly intends to innovate in the weight-loss market, launching up to four new products in the coming years. The success of Mounjaro and Zepbound significantly boosted the company's sales and market value. Eli Lilly sees potential in India's biotech sector, despite challenges in the research funding environment. The company is open to partnerships with Indian biotechnology firms for future collaborations.
New Delhi: Eli Lilly, the world's biggest drugmaker by market cap, plans to maintain its substantial lead in the weight-loss market with new drugs that hold promise of exceeding the success of Mounjaro and Zepbound.
"We are the global leaders, and we plan to stay that way - the main way is through innovation," Eli Lilly chairman and CEO David A Ricks said in an interview. "Over the next four years, we could launch as many as four new products in this category. And in some cases, those competitors won't even be on the market yet."
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The Economic Times
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