American drug maker Eli Lilly and Co. is contributing $92.5 million to create a new pharmaceutical manufacturing scholarship program and renew a strategic research collaboration with Purdue University.
$42.5 million is committed toward funding scholarships for incoming Purdue undergraduate students over the next decade. 75 to 100 students will be offered full tuition each year with a guaranteed internship or co-op at Lilly. The Lilly Scholars program will prioritize access for undergrads that are currently underrepresented in Purdue’s student population, that have overcome socioeconomic or educational disadvantages, or who are the first generation in their family to attend college.
“Lilly is among Purdue’s most important partners, and this latest commitment reaffirms our longtime collaboration. Through these collaborations, Lilly and Purdue are helping to build a critical pharmaceutical ecosystem in the heartland,” Purdue’s president Mitch Daniels said in a release. “We have a company that is committed to advancing research and fostering talent. Lilly is investing in students very early in their education rather than waiting until late in their college careers – connecting to students before they even arrive on campus.”
The first Lilly Scholars scholarships are slated to be offered for fall 2023. Those who participate in the program will be given preferred access and opportunities to compete for a role at the firm after they graduate.
Lilly invested $50 million in a strategic research collaboration with Purdue in 2017. The partners’ efforts led to a better understanding of the physiology of drug delivery and the development of drug delivery technologies. A new $50 million master agreement was signed between the company and the university to extend the research for an additional five years, focusing on genetic medicine, intrathecal delivery, and nanoparticle drug delivery.
“As the number of people who may benefit from our innovative medicines continues to increase, we are investing to advance critical research and build a more diverse pipeline of talent in Indiana. Together with Purdue, we can help to keep our state’s best and brightest in Indiana, furthering Lilly’s ability to make life better for millions of people,” said Lilly chair and CEO David A. Ricks in a statement. “As a Purdue graduate, I am proud of the success the university has built and even more proud to see Lilly and Purdue team up to make both institutions better and better.”
Purdue launched the William D. Young Institute for Advanced Manufacturing of Pharmaceuticals earlier this year.