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 On Thursday it said it would invest $1.8 billion to boost production in Ireland of its newly approved Alzheimer’s drug, as well as popular weight loss and diabetes treatments and other medicines.
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. The drug works to slow the progression of the disease in its early stages and was approved in the United States in July.
Eli Lilly also announced an $800 million facility expansion In Kinsale, Ireland. The plant began producing pharmaceuticals last year to help meet the company’s needs for diabetes and obesity treatments, according to a news 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.
“These investments will increase production of some of our medicines, helping millions of people living with diabetes, obesity and Alzheimer’s disease live their healthiest lives,” said Edgardo Hernandez, president of Eli Lilly’s manufacturing operations. “We are not It doesn’t stop there – these state-of-the-art facilities will also be equipped to support our promising future pipeline molecules.”
Eli Lilly’s main competitor in the weight-loss drug field, Novo Nordiskhas also invested billions of dollars to increase production of its own treatments.
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