Lilly Announces $72M Indy Investment
Lilly last month detailed plans to invest $850 million into its U.S. operations this year.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced plans to invest $72 million in an insulin manufacturing project at one of its Indianapolis facilities. The company says the investment will replace an existing insulin vial filling line and allow it to meet growing demand for its insulin products. The project is part of the $850 million in U.S. investments that Lilly announced in March. Chief Executive Officer David Ricks says the move "reinforces our ongoing commitment to the U.S. market and in Indianapolis specifically."
Lilly says replacing the existing vial filling line with upgraded technology will align the company with modern design expectations. President of Lilly Global Manufacturing Operations Maria Crowe says it’s crucial for the company to recapitalize and modernize its insulin operations, which are a core element of Lilly’s diabetes business.
The pharmaceutical giant says it has invested $5 billion in its U.S. facilities over the last decade, and more than $1.2 billion since 2012 in its U.S. diabetes product manufacturing operations. The $850 million in investment announced earlier this year will span facilities throughout the United States and includes an $85 million expansion of the company’s Trulicity device assembly operations.