Lilly to invest $850 million in US operations this year

Eli Lilly expansion
Lilly expansion

INDIANAPOLIS (WTHR) - Eli Lilly and Company will announce plans this morning to invest millions of dollars in U.S. capital projects this year. The drug maker said in a media release that its "robust pipeline of potential medicines in development" is behind the plan to invest in laboratories, manufacturing and administration.

Lilly says drugs targeting cancer, pain, diabetes and "other unmet medical needs" are in development.

According to news release from Lilly ahead of Friday's 10:00 a.m. news conference, plans include "a new $85-million expansion of the Trulicity (dulaglutide) device assembly operations in the U.S."

The expansion is part of a five-year investment by Lilly to expand its diabetes products manufacturing operations in the U.S., which also includes a $140 million insulin cartridge production facility.

"Our future at Lilly is bright," said Lilly president and CEO David Ricks in Friday's release, "as we're on a path to launch 20 new products in a 10-year time frame," Ricks said. "As we have for our entire 140-year history, we continue to see Indiana and the United States as attractive places to research and make the medicines that we sell around the world."

Lilly says its diabetes commitment has led to nearly 400 jobs in Indianapolis alone, and construction work for ongoing operations will require a "significant" number of tradesmen.

"Lilly's announcement today is a clear example of what a fiscally sound state with a strong business climate-coupled with a world-class company-can achieve," said Indiana Gov. Eric J. Holcomb in a prepared statement. "I am grateful for Lilly's continued investment in Hoosiers and in our home state, and will work to maintain the strength of the life-sciences industry and advanced manufacturing in Indiana."

"Despite a global presence and diverse interests, Lilly's continued investment in Indianapolis is a testament to their exceptional level of faith in our workforce and a decades-long commitment to this community," said Indianapolis Mayor Joe Hogsett, also in a prepared statement. "As the biotech industry continues to grow in Indianapolis, Lilly remains a clear leader, bringing advancements to the field and high paying jobs to the city. I'm excited for what today's announcement means for the company's future and look forward to Lily's continued advancements as their footprint in our city grows."

Ricks indicated Lilly's willingness to continue to invest if the U.S. tax environment improves.