By ABC (Business) | Created at 2024-12-05 23:01:30 | Updated at 2024-12-22 12:47:50
2 weeks ago
Eli Lilly is spending another $3 billion to bulk up manufacturing as the drugmaker seeks to stoke production of some blockbuster drugs and future products
ByThe Associated Press
December 5, 2024, 5:26 PM
Eli Lilly is spending another $3 billion to bulk up manufacturing as the drugmaker seeks to stoke production of some blockbuster drugs and future products.
Lilly said Thursday it will expand a Kenosha County, Wisconsin, factory it bought early this year, and the investment will help meet growing demand for injectable products like its diabetes and obesity drugs, Mounjaro and Zepbound.
Those drugs brought in a combined $4.4 billion in sales for Lilly in this year’s third quarter.
The drugmaker plans to start construction of the expansion next year.
Lilly also announced other multibillion-dollar manufacturing expansion projects near its Indianapolis headquarters earlier this year.
Eli Lilly and Co. said Thursday that it has slated more than $23 billion to construct, expand or acquire manufacturing sites worldwide since 2020.
