Eli Lilly is allocating an additional $3 billion to enhance its manufacturing capabilities as the pharmaceutical company aims to increase the production of various high-demand medications along with future offerings.
On Thursday, Lilly announced its plans to expand a facility located in Kenosha County, Wisconsin, which it acquired earlier this year. This significant investment is intended to help satisfy the rising demand for injectable medications, particularly its diabetes and obesity treatments, Mounjaro and Zepbound.
In the third quarter of this year alone, these drugs contributed a remarkable $4.4 billion in sales to Lilly’s revenue.
The construction for the expansion is expected to commence next year. This move comes alongside other substantial investments in manufacturing facilities announced earlier this year, particularly those situated near Lilly’s headquarters in Indianapolis.
Since 2020, Eli Lilly and Co. has committed over $23 billion for the construction, expansion, or acquisition of manufacturing sites globally, showcasing its dedication to scaling production to keep up with the growing market needs.
