INDIANAPOLIS, May 25, 2022 /PRNewswire/ — Eli Lilly and company (NYSE: LLY) plans to expand its manufacturing footprint by Indiana by investing $2.1 billion in two new manufacturing sites in Indiana LEAP Lebanon Innovation and research district in Boone County.
These new facilities will expand Lilyof the manufacturing network for active ingredients and new therapeutic modalities, such as genetic drugs, and represent the company’s commitment to strengthening its portfolio of potentially life-changing treatments.
“More than 146 years after our foundation, Lily remains committed to investing and innovating in Indiana,” said David A.Ricks, LilyPresident and CEO. “These new sites will add capacity to support our growing pipeline of innovative medicines, while creating more high-tech jobs for Hoosiers. We are delighted to be a founding investor in the LEAP Lebanon Innovation District.”
Over the past eight years, Lily delivered 17 new drugs, including tirzepatide (FDA-cleared as Mounjaro™) for the treatment of type 2 diabetes, and aims to introduce four potential new drugs over the next two years. These new sites will meet an increased demand for Lily products and play a key role in providing Lilyof the strong clinical pipeline to patients around the world.
The proposed project is expected to create up to 500 new Lily roles with four additional indirect jobs for each Lily post created, based on industry data. It is estimated that 1,500 construction jobs will be required during construction of the facilities.
“Lily was an anchor in Indiana economy for generations, and this announcement means they will continue to be here for generations,” said Indiana Governor Eric J. Holcomb. “I am incredibly proud Lily continues to make interesting investments in Indiana that will enhance the lives and opportunities of Hoosiers for decades to come. And in turn, the very pharmaceutical research and manufacturing conducted here in our state will improve lives around the world. »
Lilythe most recent expansion of Indiana was announced in 2019 and capped a series of research and manufacturing investments in and around Indianapolis. These investments totaled more than $2.5 billion over five years and created additional manufacturing jobs bringing the current total number of Lily manufacturing employees in Indiana to over 3,700.
The investment in Boone County depends on local zoning and annexation approvals. Lily partners with several organizations throughout the project, including the Indiana Economic Development Corporation.
Lilly combines caring and discovery to create medicines that improve the lives of people around the world. We’ve been at the forefront of life-changing discoveries for nearly 150 years, and today our medicines help more than 47 million people around the world. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world’s most important health problems, redefine diabetes care, treat obesity and reducing its most devastating long-term effects, advancing the fight against Alzheimer’s disease, providing solutions to some of the most debilitating immune system disorders, and turning the most difficult-to-treat cancers into manageable diseases. With every step towards a healthier world, we are driven by one thing: to make life better for millions more people. This includes conducting innovative clinical trials that reflect the diversity of our world and ensuring our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/newsroom. C-LLY
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) regarding planned capital investments in new manufacturing sites and reflects Lilycurrent beliefs and expectations. However, there is no guarantee that Lily will successfully complete the manufacturing sites planned or which Lily will otherwise execute its strategy as intended. There are substantial risks and uncertainties in the manufacturing process, development and commercialization of pharmaceutical products that could impact the launch of potential new products or the overall commercial success of our products. For a more in-depth discussion of these risks and uncertainties, see Lilymost recent filings of Forms 10-K and 10-Q with the United States Securities and Exchange Commission. Unless required by law, Lily assumes no obligation to update forward-looking statements to reflect events after the date of this release.
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