An indication with the corporate logo sits outside of the headquarters of Eli Lilly in Indianapolis, Indiana, on March 17, 2024.
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Eli Lilly on Thursday said it can invest $1.8 billion to spice up manufacturing for its newly approved Alzheimer’s drug and highly popular weight reduction and diabetes treatments, amongst other medicines, in Ireland.
The pharmaceutical giant is spending $1 billion to expand an existing site in Limerick, Ireland, to extend the production of certain energetic ingredients in drugs, including those utilized in its Alzheimer’s treatment Kisunla. That drug, which slows the progression of the disease in people within the early stages, won approval within the U.S. in July.
Eli Lilly also announced an $800 million facility expansion in Kinsale, Ireland. That site began to fabricate drugs in 2023 to assist meet demand for the corporate’s diabetes and obesity treatments, in keeping with a press release.
Demand for Eli Lilly’s obesity drug Zepbound and diabetes injection Mounjaro has outstripped supply during the last yr, forcing the corporate to take a position heavily to extend production. Eli Lilly has invested greater than $20 billion to purchase, construct and expand manufacturing plants within the U.S. and Europe since 2020, in keeping with the corporate.
“These investments will boost the production of a few of our medicines, helping hundreds of thousands of individuals with diabetes, obesity and Alzheimer’s disease live the healthiest lives possible,” said Edgardo Hernandez, Eli Lilly’s president of producing operations. “We cannot stop there — these state-of-the-art facilities may also be equipped to support our promising pipeline molecules of the long run.”
Eli Lilly’s principal rival in the load loss drug space, Novo Nordisk, has similarly poured billions into boosting production of its own treatments.
