Lilly Details $850M U.S. Plans

Lilly CEO David Ricks and other company officials will be on hand for the announcement.

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Eli Lilly and Co. (NYSE: LLY) has detailed plans to pump $850 million into its U.S. operations this year. That includes a new $85 million expansion of the company’s Trulicity device assembly operations. The drugmaker says the investment is being driven by strong demand and its growing pipeline of potential cancer, pain and diabetes treatments. Lilly says it will announce new projects throughout the year as they are approved by the board of directors. Chief Executive Officer David Ricks will discuss the growth plans this weekend on Inside INdiana Business Television.

Lilly says the $850 million investment will span facilities throughout the United States, including research laboratories, manufacturing sites and administrative facilities. Ricks says the plans shows the company’s potential for growth and long-standing commitment to its U.S. operations.

The Trulicity investment is part of a five-year plan by the company to grow its U.S. diabetes manufacturing operations. That also includes a recently-completed, $140 million insulin cartridge production facility.

Ricks and other company officials were joined at this morning’s announcement by Governor Eric Holcomb, Indianapolis Mayor Joe Hogsett and U.S. Representatives Susan Brooks (R-5) and Todd Rokita (R-4).

Inside INdiana Business will have more on this story in today’s INside Edge e-newsletter. Click here to subscribe for free.