Lilly to invest $4.5 billion on new Indiana facility

(Reuters) -U.S. drugmaker Eli Lilly (NYSE:LLY ) said on Wednesday it will invest $4.5 billion to create a new center for advanced manufacturing and drug development in Indiana.

The center, Lilly Medicine Foundry, will focus on researching new ways of producing medicines and scaling up the production of drugs used in its clinical trials.

Lilly's CEO David Ricks said the facility, which will be located in Lebanon, Indiana and open in late 2027, could increase output by 400% and help in quicker delivery of medicines to patients.

Once fully operational, the facility is expected to add 400 full-time jobs, including engineers, scientists, operations personnel and lab technicians.



The new facility adds to previous manufacturing commitments by the company in Lebanon, which include a $5.3 billion investment to manufacture active pharmaceutical ingredients for its latest diabetes and obesity medicines.

It takes the company's total capital commitment in the United States since 2020 to more than $23 billion.

Source: Investing.com