A Severe Thunderstorm Watch continues for Marion county.   Click for details

Mayor wants biotech cash back




Scientists at a small pharmaceutical lab in a Greenwood office park labored for years on a generic version of insulin and came up with a product they hoped would change the world.

Elona Biotechnologies developed a new way to make insulin that they said was faster and less expensive. The company hoped to undercut big pharmaceutical companies such as Eli Lilly and Co. on price and to make the drug that diabetics need to regulate their blood sugar more accessible worldwide.

Elona’s owners eyed a multibillion-dollar global market and talked of making diabetes care affordable in Mexico and developing countries. The family-run business had big plans: $25.7 million in investment in a new production facility, 70 jobs, and an anchor that would attract other pharmaceutical firms to Greenwood and make it a small hub in the biotechnology industry.

This story appears in the print edition of Daily Journal. Subscribers can read the entire story online by signing in here or in our e-Edition by clicking here.

comments powered by Disqus

All content copyright ©2014 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.