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Eli Lilly announces $2.1bn investment in new manufacturing sites

The new sites will create around 500 jobs within the company

Eli Lilly

Eli Lilly has announced it will invest $2.1bn to develop its manufacturing capabilities in the US. The two new manufacturing sites will be located in Indiana in the US, in the LEAP Lebanon Innovation and Research District.

The new facilities will expand Lilly's manufacturing network for active ingredients and new therapeutic modalities, such as genetic medicines.

Commenting on the expansion, David Ricks, Lilly's chair and CEO, said: "These new sites will add capacity in support of our growing pipeline of innovative medicines, while also creating more high-tech jobs. We are pleased to be a founding investor at the LEAP Lebanon Innovation District."

The project will create an estimated 500 new roles at Lilly, with an additional four indirect jobs for every new role created at the company, according to industry data. In addition, during the building process, around 1,500 construction jobs will be created.

Indiana governor Eric Holcomb said: "I am incredibly proud that Lilly continues to make exciting investments in Indiana. The research and pharmaceutical manufacturing spearheaded here in our state will improve lives worldwide."

The company has delivered 17 new medicines over the course of the last eight years, including tirzepatide, which received US Food and Drug Administration (FDA) approval as Mounjaro, for the treatment of type 2 diabetes. Lilly is focused on introducing four potential new medicines during the next two years.

In 2019, Lilly's announced an expansion in Indiana and capped a variety of investments in research and manufacturing in the state. The same investments came to a total of over $2.5bn, over the course of five years, and created additional manufacturing jobs.

Article by
Fleur Jeffries

26th May 2022

From: Research, Sales, Healthcare



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