Lilly to expand manufacturing capability in US with $2.1bn investment
Eli Lilly and Company has announced plans to make an investment of $2.1bn to expand its manufacturing footprint in Indiana, US.
The investment will be made in two new manufacturing facilities at LEAP Lebanon Innovation and Research District of Indiana in Boone County.
The new sites will extend the production network of the company’s active ingredients and new treatment modalities, such as genetic medicines.
They also signify Lilly’s commitment to bolstering its portfolio of potentially life-changing therapies.
Lilly delivered 17 new therapies, including Food and Drug Administration (FDA)-approved tirzepatide (Mounjaro) to treat type 2 diabetes, in the last eight years.
Furthermore, the company intends to launch four potential new therapies in the coming two years.
The Boone County plants will help in meeting the rising demand for current products of Lilly and play a major role in delivering the company’s strong clinical pipeline to patients across the globe.
According to industry estimates, the project is anticipated to generate up to 500 new job roles in the company with further four indirect jobs for every such position created.
In addition, the construction of the sites is expected to need nearly 1,500 jobs.
The latest development comes after the company announced an expansion in Indiana in 2019 and invested in research and manufacturing in and around Indianapolis.
Over a five-year period, these series of investments totalled over $2.5bn and resulted in generating further manufacturing jobs taking the total number of manufacturing employees of the company in Indiana to over 3,700.
The investment in sites in Boone County is subject to obtaining local zoning and annexation approvals.
Lilly chair and CEO David Ricks said: “These new sites will add capacity in support of our growing pipeline of innovative medicines, while also creating more high-tech jobs for Hoosiers.
“We are pleased to be a founding investor at the LEAP Lebanon Innovation District.”
Earlier this month, Lilly and Genesis Therapeutics entered a strategic collaboration to discover new drugs for up to five targets across various therapeutic regions.