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LILLY $35 MIL. INVESTMENT IN SOMATOGEN WILL SAVE BIOTECH FIRM $200 MIL.

Executive Summary

LILLY $35 MIL. INVESTMENT IN SOMATOGEN WILL SAVE BIOTECH FIRM $200 MIL. in cost avoidance in the development and manufacture of its recombinant hemoglobin blood substitute rHb1.1, Somatogen CEO Charles Scoggins maintained in a June 27 teleconference. The bulk of the cost avoidance will come from $150 mil. saved in manufacturing and startup costs since Lilly will take over worldwide manufacturing of rHbl.1
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