Lilly revamping presence in China

As part of an evolving research strategy in China, Eli Lilly and Co. (NYSE:LLY) will close its R&D center in Shanghai and instead seek to expand partnerships with local biotechs and academics. Spokesperson Lauren Zierke told BioCentury the pharma's "presence in and commitment to China remains steadfast."

The pharma has already begun entering into out-licensing deals with Chinese companies...