Expansion of manufacturing facility in
North Carolina will increase the
number of patients who may benefit from the company's
medicines
INDIANAPOLIS, Jan. 24,
2023 /PRNewswire/ -- Eli Lilly and Company (NYSE:
LLY) today announced plans to invest an additional $450 million and create at least 100 new jobs to
expand its manufacturing capacity at the company's Research Triangle Park facility. The expansion
includes additional parenteral filling, device assembly and
packaging capacity to support an increased demand for Lilly's
incretin products that treat diabetes.
"As we move into 2023, Lilly is focused on finding innovative
solutions to meet the growing demand for our medicines," said
Edgardo Hernandez, executive vice
president and president, Lilly Manufacturing Operations. "Expanding
our operations at Research Triangle
Park will accelerate the rate at which we can produce
medicines that patients rely on to address serious health
challenges like diabetes. We're on track to achieve the goal we
shared in November 2022 of doubling
incretin capacity by the end of this year, but this investment is
key to ensuring even more patients will have access to medicines
they need in the future."
Since 2020, Lilly has committed roughly $4 billion to new manufacturing facilities in
North Carolina, including
$1.7 billion for the development and
expansion of its site at Research
Triangle Park. The company anticipates initial production at
Research Triangle Park to begin
this year, with preparations for inspections by the FDA
ongoing.
Since 2014, Lilly has introduced 18 new medicines to make life
better for people living with diseases like diabetes and cancer and
aims to introduce several potential new medicines in 2023. This
expansion will play a pivotal role in delivering supply of existing
Lilly medications, while preparing to bring the next generation of
medicines to patients worldwide.
"When companies already in North
Carolina choose to expand here, it reaffirms our status as
the best state to do business," Governor Roy Cooper said. "Our strong communities and our
dedicated, well-trained workforce will help Lilly continue to
succeed."
When fully operational in 2027, this phase of the project is
expected to create at least 100 new jobs, primarily manufacturing
personnel who will use advanced technology to produce incretin
treatments and medical devices.
North Carolina's workforce has
extensive experience in pharmaceutical manufacturing, and Lilly has
established partnerships with local entities to ensure more people
in the community have an opportunity to receive the education
necessary to produce life-changing medicines. Through partnerships
between Lilly, Wake Tech, Durham Tech and other local colleges and
organizations, residents with high school diplomas or community
college credits have an opportunity to refine their skills and earn
the credentials needed to begin careers in pharmaceutical
manufacturing.
As Lilly prepares for future growth expected from potential new
medicines to treat diabetes, obesity, Alzheimer's disease, cancer
and autoimmune conditions, the company anticipates further
expansion of its global manufacturing footprint to ensure
sufficient supply of medicine.
About Lilly
Lilly unites caring with discovery to
create medicines that make life better for people around the world.
We've been pioneering life-changing discoveries for nearly 150
years, and today our medicines help more than 47 million
people across the globe. Harnessing the power of biotechnology,
chemistry and genetic medicine, our scientists are urgently
advancing new discoveries to solve some of the world's most
significant health challenges, redefining diabetes care, treating
obesity and curtailing its most devastating long-term effects,
advancing the fight against Alzheimer's disease, providing
solutions to some of the most debilitating immune system disorders,
and transforming the most difficult-to-treat cancers into
manageable diseases. With each step toward a healthier world, we're
motivated by one thing: making life better for millions more
people. That includes delivering innovative clinical trials that
reflect the diversity of our world and working to ensure our
medicines are accessible and affordable. To learn more,
visit Lilly.com and Lilly.com/newsroom or
follow us on Facebook, Instagram and LinkedIn. C-LLY.
Forward Looking Statement
This press release contains
forward-looking statements (as that term is defined in the Private
Securities Litigation Reform Act of 1995) about planned capital
investments in new manufacturing capacity and reflects Lilly's
current beliefs and expectations. There are substantial risks and
uncertainties in the manufacturing process, development, and
commercialization of pharmaceutical products which could impact the
overall commercial success of our products, and as related to cost,
completion timing, expected capacity, personnel, and other factors
which could impact expected benefits of the capacity expansion. 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.
Refer
to:
|
Molly McCully;
mccully_molly@lilly.com; (317) 478-5423 (Media)
|
|
Joe Fletcher;
jfletcher@lilly.com; 317-296-2884 (Investors)
|
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SOURCE Eli Lilly and Company