(Finance) – Eli Lillyan American pharmaceutical giant, announced that it has more than doubled its investment in the production site in Lebanon, Indianawith a new commitment of $5.3 billion, increasing the company’s total investment in this site from $3.7 billion to $9 billion.
This expansion, we read in a note, will improve Lilly’s ability to produce active pharmaceutical ingredients (APIs) for Zepbound (tirzepatide) injectable e Mounjaro (tirzepatide) for chronic diseases such as obesity and type 2 diabetes.
Since 2020, Lilly has committed more than $16 billion to development new production sites in the United States and Europe. New locations outside Indiana include Research Triangle Park and Concord, North Carolina; Limerick, Ireland; and Alzey, Germany. Separately, the company has invested an additional $1.2 billion to upgrade existing manufacturing facilities in Indianapolis and recently acquired an injectable manufacturing facility in Pleasant Prairie, Wisconsin, from Nexus Pharmaceuticals. Together, these manufacturing investments total more than $18 billion.
“Today’s announcement surpasses the largest production investment in the history of our company and, we believe, represents the largest investment in synthetic drug API manufacturing in U.S. history,” said David A. Ricks, president and CEO of Lilly. “This multi-site campus will enable our latest medicines, including including Zepbound and Mounjaro, to support pipeline growth and leverage the latest technology and automation for maximum efficiency, safety and quality control.”