Indianapolis-based Eli committed $92.5 million dollars to West Lafayette, Ind.-based Purdue University to establish a new pharmaceutical manufacturing scholarship program.
The two organizations also renewed their strategic research collaboration to expand their impact in Indiana, according to an Oct. 27 news release.
Funding includes $50 million toward a joint research collaboration that will extend the partnership for five years. An additional $42.5 million will be distributed over 10 years to fund pharmaceutical manufacturing scholarships for incoming Purdue undergraduate students.
Scholarships include full tuition and a guaranteed internship or co-op at Lilly with the promise of coordinated interaction with company leaders. Seventy-five to 100 scholarships will be awarded each year. Priority access will be given to undergraduate students who are underrepresented in Purdue's student population, socially, economically, educationally disadvantaged, or first-generation college students.
Purdue University President Mitch Daniels said the commitment reaffirms their longtime partnership and helps to build a critical pharmaceutical ecosystem in Indiana.
"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," Mr. Daniels said.