Lilly announces $400 million capital investment in manufacturing facilities in Indianapolis
INDIANAPOLIS, Nov. 20, 2019 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced plans to invest $400 million in its manufacturing facilities at its Lilly Technology Center campus in Indianapolis. The plans are driven by increasing demand for Lilly's current medicines, and they provide additional manufacturing capacity for future medicines coming from Lilly's pipeline. These new investments will create approximately 100 new highly skilled jobs at the company.
Company leaders were joined by state and local government officials at Lilly's headquarters in Indianapolis to unveil the details of the investments, which include enhancements to existing manufacturing facilities that make insulin, additional capacity for its growing portfolio of diabetes medicines and initial capital investments for future medicines.
"These investments demonstrate Lilly's commitment to our manufacturing footprint in Indiana and the United States, and have been made possible by the tax reform measures passed by Congress in 2017," said David A. Ricks, Lilly's chairman and chief executive officer. "With more capital available as a result of tax reform, Lilly and other Indiana companies are able to re-invest and expand production here at home. This is crucial for us to continue to advance our state's economy and drive future investment – adding high-tech jobs and facilities that keep Indiana competitive in the global marketplace."
"These investments support our manufacturing capabilities in Indianapolis, including additional capacity and technology upgrades to our active ingredient, syringe filling, device assembly and packaging operations," said Myles O'Neill, senior vice president and president of Manufacturing Operations. "All of these projects support Lilly's investment in next generation manufacturing and feature high levels of automation, robotics, new technologies and advanced data analytics."
O'Neill noted that in addition to increasing the capacity and capabilities needed to provide a safe and reliable supply of medicine for people, the investments also allow Lilly to add highly skilled U.S. manufacturing jobs. "To make medicine, we need highly skilled technicians, scientists and engineers, who are economic catalysts for local communities," he said.
"For decades, Indianapolis has been known as a hub for innovation, driven in large part by Eli Lilly and Company's commitment to our community and their global reputation as an industry leader," said Indianapolis Mayor Joe Hogsett. "Today's announcement helps to expand the skilled work force in Indianapolis and reinforce the company's presence in central Indiana."
"Thanks to the long-standing commitment of companies like Lilly, Indiana is at the heart of global innovation and growth in life sciences, ranking No. 2 in the nation for total exports," said Indiana Secretary of Commerce Jim Schellinger. "We're excited to witness Lilly's continued success in central Indiana as the company invests $400 million at its Lilly Technology Center and continues to create quality career opportunities for Hoosiers. It is clear that Lilly will remain a staple in our state for many generations to come, serving customers around the world while giving back to the Indianapolis community here at home."
Lilly has invested over $5 billion in the United States since 2012, with the majority of this investment in its Indiana facilities and nearly $2 billion in manufacturing of diabetes medicines.
About Eli Lilly and Company
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about planned capital projects and reflects Lilly's current belief. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of development and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date or that these planned capital projects will achieve its primary study endpoints or receive regulatory approvals. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
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SOURCE Eli Lilly and Company
Company Codes: NYSE:LLY