Wednesday, 22 May 2019

Lilly expands partnership with Novast

13 June 2012 | News | By BioSpectrum Bureau

Lilly expands partnership with Novast for China market

Novast has committed to set up a platform to support Lilly branded generic products and increase manufacturing capacity at its Nantong site

Novast has committed to set up a platform to support Lilly branded generic products and increase manufacturing capacity at its Nantong site

Singapore: In support of its commitment to maximize growth opportunities in China, Eli Lilly has decided to increase its network of manufacturing capabilities in this key emerging market country through an expanded collaboration with Novast Laboratories. Novast, a generic and specialty pharmaceutical company based in Nantong, China, has high-quality systems and manufacturing facilities for the global and domestic Chinese markets.

Lilly expects its expanded collaboration with Novast to greatly enhance its efforts to build a portfolio of Lilly branded generic medicines in China. The collaboration may also result in Novast providing local and regional manufacturing capabilities for Lilly's own pipeline of potential new medicines in development.

As part of the agreement, Lilly will increase its equity position in Novast by $20 million. Lilly made an initial equity investment in Novast several years ago through the Lilly venture capital unit, Lilly Asian Ventures. Novast has committed to set up a platform to support Lilly branded generic products and increase the manufacturing capacity at its Nantong site over the next several years, with Lilly providing technical support to enhance quality standards. The additional capacity will support the collaboration, but will not be solely dedicated to Lilly products. The two companies have selected an initial list of medicines across multiple therapeutic areas that will be manufactured by Novast once the facilities are operational. Additional terms of the agreement were not disclosed.

"We are excited to expand our collaboration with Novast. As we develop a platform of high-quality Lilly branded generic medicines in China, we are supporting the Chinese governments' current five-year plan, which calls for significant improvement in the quality of medicines in the pharmaceutical industry," said Mr Jacques Tapiero, senior vice president and president of Emerging Markets at Lilly. "In Lilly's emerging markets business, we are focused on providing patients with innovative medicines from our own pipeline, as well as select Lilly branded generic medicines that meet our quality standards. The additional manufacturing capabilities provided by Novast will allow us to better deliver on that strategy."

Mr Eric Baclet, president and general manager of Lilly China, said the company is building for the future by investing across its value chain. "We have made significant investments in research and development, increased our commercial presence to better serve patients and healthcare providers, and expanded our manufacturing capabilities both at Lilly owned sites and through partner companies such as Novast. We are committed to help meet the medical needs of the Chinese people by providing innovative medicines of the highest quality," he said.

"This long term strategic partnership will combine Lilly's expertise in innovation, commercialization and operations with Novast's strengths in product development and quality manufacturing," said Dr Guohua Zhang, president and CEO, Novast Laboratories. "We are committed to helping Lilly bring high-quality medicines to patients in China and potentially other countries. We are looking forward to working together constructively and cooperatively in the years ahead to achieve our business objectives."

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account

Podcast

 

Survey Box

Will stem cell therapy market witness highest growth in Asia by 2020?

× Please select an option to participate in the poll.
Processing...   View poll results   More polls

× You have successfully cast your vote.
{{ optionDetail.option }}{{ optionDetail.percentage }}%
{{ optionDetail.percentage }}% Complete
More polls