Eli Lilly and Purdue University expand their partnership with a $250 million investment to advance pharmaceutical innovation and workforce development.

Eli Lilly and Company (NYSE: LLY) and Purdue University announced Friday (May 9) a significant expansion of their long-standing

Eli Lilly and Co. and Purdue University on Friday announced an expanded collaboration agreement, with the Indianapolis drugmaker planning to invest up to $250 million over the next eight years to foster pharmaceutical innovation.

Eli Lilly is investing more in its home state of Indiana, pumping up to $250 million more into an existing collaboration with Purdue University over the next eight years.

Eli Lilly and Company will invest up to $250 million in its long-standing collaboration with Purdue University over the next eight years.

Eli Lilly and Co. and Purdue University announced Friday that Lilly will invest $250 million in a collaboration between the two over the next eight years.

The extended partnership holds the potential to be the largest industry-academic agreement of its kind in the United States, Purdue President Mung Chiang said.

This partnership, which officials said has the potential to be the largest ever U.S. industry-academic agreement of its kind, will seek to accelerate innovation in the pharmaceutical pipeline.

Eli Lilly and Purdue University announced a $250 million in what the two institutions say is the largest industry-academic partnership in the country.

Pharmaceutical giant Eli Lilly will invest $250 million in an eight-year research partnership with Purdue University. Why it matters: There's a lot of uncertainty around federal research funding at the moment,