Eli Lilly announces $4.5B production/R&D site in Indiana
Contributor since / Followers
jetcityimage/iStock Editorial via Getty Images
Eli Lilly (NYSE:LLY) on Wednesday announced plans to build a center of drug manufacturing and development in Lebanon, Indiana, at a cost of $4.5B.
Named Lilly Medicine Foundry, the new site will be located in Indiana’s LEAP Research and Innovation District in Lebanon, where LLY’s total investments have exceeded $13B so far.
The new site is expected to open in late 2027 and, once fully operational, add 400 full-time employees to LLY’s global workforce.
“In addition to supplying high-quality medicine for our clinical studies, this new complex will further strengthen our process development and scale up our manufacturing capabilities to speed delivery of next-generation medicines to patients around the world,” CEO David Ricks remarked.
Driven by the soaring demand for its anti-obesity medication, tirzepatide, LLY has been ramping up investments in the U.S. in recent years. Since 2020, the company has announced commitments to invest more than $23B in its home country.