Eli Lilly and Company announces plans to invest $27B in four new US manufacturing plants
New England Council member, Eli Lilly and Company, has announced plans to build four new manufacturing plants in the United States. One of the biggest drugmakers in the country, Lilly’s announcement is the latest in a major capital push trend across US companies as the Trump Administration seeks to strengthen domestic manufacturing.
The $27 billion investment is expected to create 3,000 jobs for highly skilled workers – such as engineers, scientists, operations personnel, etc.- and employ 10,000 construction workers. The locations of each of these new sites have yet to be announced. However, the company has stated that it expects the plants to begin making medicines within the next five years. Three of the new sites are intended to produce active pharmaceutical ingredients for its drugs. The fourth new site is slated to produce sterile injectable medicines, such as Lilly’s diabetes drug, Mounjaro.
“Lilly’s optimism about the potential of our pipeline across therapeutic areas – cardiometabolic health, oncology, immunology and neuroscience – drives our unprecedented commitment to our domestic manufacturing build-out. Our confidence positions us to help reinvigorate domestic manufacturing, which will benefit hard-working American families and increase exports of medicines made in the U.S.A,” said Lilly chair and CEO, David A. Ricks.
The New England Council congratulates Eli Lilly on this new venture that will boost US manufacturing.
Read more in the Washington Post and this press release from Lilly.