By Patrick Wingrove
(Reuters) – Eli Lilly (NYSE:) said on Thursday it will invest $3 billion to expand the manufacturing plant it bought in Pleasant Prairie, Wisconsin, earlier this year, as it struggles to meet growing demand for its medical drugs. weight loss and diabetes.
The new investment in the factory, which it acquired from Nexus Pharmaceuticals, will help boost production of Lilly's powerful weight-loss drug, Zepbound, as well as its diabetes treatments and other medications, the company said.
“Today's announcement represents our largest investment in U.S. manufacturing outside of our home state of Indiana and will increase our ability to expand capacity to manufacture our current and future drug portfolio,” said Edgardo Hernández, president of global manufacturing. by Lilly.
Mounjaro, the diabetes drug from Zepbound and Lilly, both known chemically as tirzepatide, was in short supply in the United States for much of this year. The U.S. Food and Drug Administration removed tirzepatide from its shortage list earlier this year, but is reconsidering that decision following a lawsuit from an industry group representing pharmacies that make and sell versions of the drug. Not approved by the FDA.
Zepbound was introduced in the US in late 2023. More than 5.2 million prescriptions have been issued for the drug since then, according to IQVIA data shared by an analyst.
Lilly said it has committed a total of more than $23 billion to build, expand and purchase manufacturing sites since 2020. The acquisition, expansion and additional purchases of land and adjacent warehouse in Wisconsin raise Lilly's total planned investment in the site to $4 billion. , he said.
Lilly, which has become the world's most valuable healthcare company worth more than $790 billion, said it plans to begin construction on the expansion next year, and previously said it expects production in Installations begin at the end of 2025.
The company said it expects to add 750 jobs to the Wisconsin plant, which already has more than 100, including operators, technicians, engineers and scientists.
Danish rival Novo Nordisk (NYSE has also invested billions in manufacturing to increase supply of its popular weight-loss drug Wegovy, and announced it would acquire three sites from contract manufacturer Catalent (NYSE for $11 billion to early this year.
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