Eli Lilly commits $470m towards new US manufacturing plant

22 January 2020 (Last Updated January 22nd, 2020 11:03)

Eli Lilly is set to invest around $470m to build a pharmaceutical manufacturing plant at Research Triangle Park, North Carolina.

Eli Lilly commits $470m towards new US manufacturing plant
Main building of Lilly’s corporate centre campus in Indianapolis, US. Credit: Momoneymoproblemz.

Eli Lilly is set to invest around $470m to build a pharmaceutical manufacturing plant at Research Triangle Park, North Carolina.

The facility will manufacture injectable products and delivery devices. Furthermore, Lilly expects the site to boost its production capacity.

North Carolina Governor Roy Cooper estimates that the project will create more than 460 jobs in the Durham city.

To operate the plant, the company will generate over 400 jobs, including scientists, engineers, manufacturing operations and quality professionals.

Eli Lilly chairman and CEO David Ricks said: “This next-generation manufacturing facility will allow us to expand our capacity to make the Lilly medicines that are helping people with serious illnesses today and help us prepare for new medicines coming from our robust pipeline in the future.

“In the past two years, we have invested billions of capital in new US-based manufacturing because the 2017 tax reform rebalanced the playing field in favour of the American worker.”

A Job Development Investment Grant (JDIG) from North Carolina partially supported the construction of the site. Over the 12-year term of the JDIG, the project is expected to increase the state’s economy by $4.1bn.

Founded in 1876, the company develops medicines for a variety of chronic diseases, including cancer, diabetes, chronic pain and Alzheimer’s disease.

Currently, the company operates seven manufacturing sites in the US in Indiana and New Jersey, as well as Puerto Rico. In November, Eli Lilly announced plans to invest $400m to increase its manufacturing capacity in Indianapolis, Indiana.

Lilly plans to add enhancements to its insulin-producing sites, boost capacity for its diabetes portfolio and invest in future drugs.