Demand, Work Force Fueling Lilly Growth
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The investment includes projects that are already underway
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe president of manufacturing operations at Eli Lilly and Co. (NYSE: LLY) says Indiana’s work force will continue to be a key factor in the company’s growth story. Lilly today detailed plans to pump $850 million into its U.S. operations this year, including $85 million to expand Trulicity production in Indianapolis. Maria Crowe says the company needs to be able to recruit technicians, scientists and engineers from Indiana colleges, as well as find the right construction and trade employees to build facilities. She says the growth is being fueled in part by growing demand for its diabetes treatments, including Trulicity.
Crowe says the Trulicity investment is part of a total investment of more than $1 billion over the last five years in Lilly’s diabetes operations. That also includes a recently-completed, $140 million insulin cartridge production facility.
Chief Executive Officer Dave Ricks says the announcement shows the future at Lilly is bright, with plans to launch 20 new products in a 10-year time frame. He says continues "to see Indiana and the United States as attractive places to research and make the medicines that we sell around the world." Ricks will discuss the investment and Lilly’s future in Indiana on Inside INdiana Business Television.
The investment includes projects that are already underway, as well as new efforts that will be announced through the course of the year.
Governor Eric Holcomb, who took part in today’s announcement, calls the investment "a clear example of what a fiscally-sound state with a strong business climate" can help a company achieve. He says his administration will continue to make strengthening Indiana’s life sciences and advanced manufacturing sectors a priority.