Eli Lilly & Co. to invest $850m in U.S. operationsStaff Writer |
Pharmaceuticals The investments are being driven by demand
Eli Lilly and Company announced plans to invest $850 million in its U.S. operations in 2017.
The investments are being driven by demand for Lilly products, as well as its robust pipeline of potential medicines in development targeting cancer, pain, diabetes and other unmet medical needs.
Company leaders were joined by federal, state and local government officials at Lilly Technology Center, where the details of the investments were unveiled, including plans for a new $85 million expansion of its Trulicity (dulaglutide) device assembly operations in the U.S.
This expansion is part of a massive five-year investment by the company to expand its diabetes products manufacturing operations in the U.S., which also includes a $140 million insulin cartridge production facility that was officially dedicated at today's announcement.
David A. Ricks, Lilly's president and chief executive officer, said that Lilly's potential for growth and its long-standing commitment to the U.S. market led to its decision to invest in its U.S. operations and expand its manufacturing footprint in Indianapolis. ■
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