Eli Lilly will spend more than $5 billion to expand an Indiana manufacturing site and eventually make more doses of its hot-selling weight-loss and diabetes treatments, Zepbound and Mounjaro. The drugmaker said Friday that it was more than doubling its investment in a site near its Indianapolis headquarters.
FILE - A sign for Eli Lilly & Co. sits outside their corporate headquarters in Indiana polis on April 26, 2017. Eli Lilly will spend more than $5 billion to expand an Indiana manufacturing site and eventually make more doses of its hot-selling weight-loss and diabetes treatments, Zepbound and Mounjaro. The drugmaker said Friday, May 24, 2024 that it was more than doubling its investment in a site near its Indiana polis headquarters.
The drugmaker said Friday that it was more than doubling its investment in a site near its Indianapolis headquarters. But it will take time for the location to start producing. The company broke ground for its Lebanon, Indiana, manufacturing plant last year and expects to start making products there near the end of 2026. Production will then increase through 2028.
Lilly said it would add $5.3 billion to the $3.7 billion it had already slated for the site. Company officials said in a statement that this amounts to the largest manufacturing investment in the company’s history, which dates back to the 19th century.Zepbound, the weight-loss treatment, received U.S. regulatory approval last fall. The two drugs combined to generate more than $2 billion sales in this year’s first quarter.
But Lilly has struggled to make enough supply to keep up with the growing demand, as has its rival, the Danish drugmaker Novo Nordisk, which makes the popular weight-loss drug Wegovy.Parents of disabled children sue Indiana over Medicaid changes addressing $1 billion shortfallAnalysts expect Zepbound and Mounjaro to eventually generate well over $30 billion in combined annual sales for Lilly, according to the data firm FactSet.
Lebanon IN State Wire Business Novo Nordisk AS F Weight Management Eli Lilly Co.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, MounjaroZepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.
Read more »
Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, MounjaroZepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.
Read more »
Eli Lilly to invest another $5.3 billion in Indiana plant to expand Mounjaro, Zepbound supplyDemand for the drugs Mounjaro and Zepbound has far outpaced supply over the last year, forcing Eli Lilly to invest heavily to scale up its manufacturing.
Read more »
Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issuesRapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first quarter profit
Read more »
Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issuesRapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first quarter profit. The drugmaker also hiked its forecast for 2024 well beyond analyst expectations after sales of Mounjaro more than tripled in the year’s first quarter.
Read more »
Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issuesRapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first quarter profit.
Read more »