David Ricks, Chair and CEO of Eli Lilly, during the announcement of the company’s 3b$ expansion in Wisconsin. (Sean Krajacia/The Kenosha News via AP)
Eli Lilly plans to invest an additional $3 billion to expand its manufacturing capacity, aiming to keep up with rising demand for its popular drugs and prepare for future product launches.
On Thursday, the company announced plans to enlarge a facility in Kenosha County, Wisconsin, which it purchased earlier this year. This expansion will support increased production of injectable medications, including its diabetes and obesity treatments, Mounjaro and Zepbound. Together, these drugs generated $4.4 billion in sales during the third quarter of this year.
Construction for the Wisconsin facility’s expansion is set to begin next year. This initiative is part of a broader strategy by Lilly, which has already unveiled other large-scale manufacturing projects near its Indianapolis headquarters earlier in 2023.
Since 2020, the pharmaceutical giant has committed over $23 billion to building, expanding, or acquiring manufacturing facilities globally, reflecting its focus on meeting the growing demand for its products.
