U.S. pharmaceutical giant Eli Lilly (NYSE:LLY) announced on Wednesday a major $4.5 billion investment to establish a new cutting-edge center for advanced manufacturing and drug development in Lebanon, Indiana.
The new facility, named the Lilly Medicine Foundry, will focus on pioneering innovative methods of drug production and scaling the manufacturing of medicines currently undergoing clinical trials.
Lilly's CEO, David Ricks, revealed that the state-of-the-art facility, slated to open in late 2027, will have the capacity to increase the company's production output by an impressive 400%, significantly speeding up the delivery of medicines to patients.
The new center is also set to create 400 full-time jobs across various fields, including engineering, science, operations, and lab technology.
This latest investment builds on Lilly’s previous commitments to Lebanon, where the company has already pledged $5.3 billion toward the production of active pharmaceutical ingredients (APIs) for its diabetes and obesity treatments.
Combined, these projects bring Eli Lilly’s total capital investment in the United States since 2020 to over $23 billion, underscoring its ongoing dedication to expanding U.S.-based manufacturing and R&D efforts.