In recent years, Eli Lilly has been making big investments in manufacturing, with each move bigger than the last. Their latest announcement is their largest yet: a $27 billion plan to build four new production facilities in the U.S. This brings their total investment in U.S. manufacturing to over $50 billion since 2020.
The new facilities will create over 3,000 jobs for scientists, engineers, and technicians. Three of these factories will produce active pharmaceutical ingredients, while the fourth will make injectable drugs. The locations for these facilities will be announced later this year, as Lilly is in talks with several states.
This investment comes as the U.S. government encourages companies to increase domestic production. President Trump’s administration has been pushing for more American manufacturing, and Lilly’s move aligns with this goal. The company is optimistic about its future in developing new drugs for various health areas, including diabetes and cancer.
Lilly aims to maintain its market lead and meet future demand for high-quality medicines. They are also trying to prevent issues with their supply chain by focusing on producing active ingredients in the U.S.
Lilly has announced several other investments recently, including upgrades to their plant in Wisconsin and building a new facility in North Carolina. They’ve also invested in expanding their international operations in Ireland and Germany.
Overall, Eli Lilly is growing rapidly, with significant revenue increases and a market value of $902 billion. Their popular diabetes drug Mounjaro and obesity treatment Zepbound are driving sales, along with their breast cancer drug Verzenio.