A sign bearing the company’s logo is seen outside Eli Lilly’s headquarters in Indianapolis, Indiana on March 17, 2024.
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Eli Lilly and Company Said Thursday it would invest $1.8 billion to boost newly approved manufacturing Alzheimer’s drugs and very popular lose weight Diabetes treatment and other medicines in Ireland.
The pharmaceutical giant is spending $1 billion to expand an existing plant in Limerick, Ireland, to increase production of certain active ingredients in drugs, including those in Kisunla, used to treat Alzheimer’s disease. This drug can slow the progression of the disease in people in its early stages, Get approved July in the United States.
Eli Lilly also announced an $800 million facility expansion In Kinsale, Ireland. The plant will begin producing pharmaceuticals in 2023 to help meet demand for the company’s diabetes and obesity treatments, according to a press release.
Last year, Eli Lilly’s obesity drug Zepbound and diabetes shot Mounjaro were in short supply, forcing the company to invest heavily to increase production. Since 2020, Eli Lilly has invested more than $20 billion to buy, build and expand manufacturing facilities in the United States and Europe, according to the company.
“These investments will increase production of some of our medicines to help millions of people living with diabetes, obesity and Alzheimer’s disease,” said Edgardo Hernandez, president of Eli Lilly’s manufacturing operations. Patients living their healthiest lives “We don’t stop there—these state-of-the-art facilities will also be equipped to support our promising pipeline of future molecules. “
Eli Lilly’s main competitor in the weight-loss drug field, Novo Nordiskhas also invested billions of dollars to ramp up production of its own treatments.
