Eli Lilly executives on Wednesday announced a $27 billion investment in four new pharmaceutical manufacturing plants to make the United States the world’s leader in medicine development and production. File Photo by Momoneymoproblemz/Wikimedia Commons/UPI
Eli Lilly announced plans for four new pharmaceutical manufacturing sites to produce domestic medicine production in the United States and make the nation the world’s leader in pharmaceutical production.
The pharmaceutical firm would invest $27 billion to build the four new manufacturing plants in locations that are yet to be determined. Advertisement
Eli Lilly chairman and Chief Executive Officer David Ricks in a news release on Wednesday said the new U.S. manufacturing sites will support the firm’s efforts to produce medicines that support cardio-metabolic health, oncology, immunology and neuroscience treatments.
“Our confidence positions us to help re-invigorate domestic manufacturing, which will benefit hard-working American families and increase exports of medicines made in the U.S.A.,” Risk said.
“This bold move reflects our commitment to stay ahead of anticipated demand for safe, high-quality, FDA-approved medicines of the future.”
Three of the planned sites would produce active pharmaceutical ingredients to enhance the capabilities of small molecule chemical synthesis and strengthen Eli Lilly’s supply chain.
The fourth location would extend Eli Lilly’s global parenteral manufacturing network for future injectable therapies.
The four sites would create more than 3,000 jobs for scientists, engineers, operations personnel, lab technicians and other highly skilled workers, according to Eli Lilly. Advertisement
They also would create an estimated 10,000 construction-related jobs to build them.
The proposed manufacturing sites also will help Eli Lilly “deliver on our big bets on next-generation modalities, like small molecules, biologics and nucleic acid therapies,” said Edgardo Hernandez, executive vice president and president of Lilly Manufacturing Operations.
“Lilly is investing in the state-of-the-art manufacturing infrastructure needed to deliver tomorrow’s safe and reliable medicine,” Hernandez said.
“We are creating a future where American innovation leads the world in pharmaceutical manufacturing, requiring a highly skilled workforce prepared to shape the future of health care,” Hernandez added.
“This is significant step for our company, our communities and the patients we serve.”
The four new facilities also will support local economies with increased spending, more tax revenue, economic diversification,improved infrastructure, larger local populations, and training and development opportunities for residents.
Ricks cited the Tax Cuts and Jobs Act of 2017 as enabling the planned manufacturing sites and said such policies should be expanded.
“Our investments in America and upskilling our nation’s workforce will spark a significant ripple effect,” Ricks said. “For every job we create many more will be generated, positively impacting the communities that host our innovative new sites.”
The proposed manufacturing plants will boost Eli Lilly’s recent business domestic business investments to $50 billion, including $23 billion invested from 2020 to 2024. Advertisement
The locations of the four planned pharmaceutical manufacturing facilities are being negotiated with several states, and Eli Lilly is welcoming additional interest for potential sites through March 12.
