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Lilly Appoints SVP Business Development

Carroll responsible for all strategic corporate transactions

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By: Kristin Brooks

Managing Editor, Contract Pharma

Darren J. Carroll has been promoted to senior vice president of corporate business development for Eli Lilly and Co., responsible for all strategic corporate transactions including mergers and acquisitions, joint ventures, business collaborations, private equity investments, and out-partnering. He reports to Derica Rice, executive vice president of Global Services and chief financial officer. 
 
Mr. Carroll has been with the company for 18 years and most recently served as vice president of corporate business development since 2010. Mr. Carroll has helped to lead and create new business models, including e-Lilly, InnoCentive, Lilly Ventures, and Lilly Asia Ventures. He was also the driver behind the company’s Capital Funds Portfolio strategy with several venture capital fund managers, which has led to the creation of 11 new companies, including Artaeus, which Lilly acquired in January 2014, aimed at developing novel molecules to clinical proof of concept. 
 
“As we aim to ensure a more continuous flow of first-or best-in-class medicines in the years ahead, we must, and we will, increase our business development activity – through partnerships, licensing, and acquisitions,” said Rice. “Darren is the ideal candidate to lead this important and increasingly competitive work. He’s a pragmatic, creative individual with an extraordinary bandwidth for managing and understanding complex business opportunities. Darren’s high integrity, insights into diverse markets and cultures, and unique experiences, both inside and outside of Lilly, are important assets as we seek to be more attractive to potential partners.”  

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