Eli Lilly to invest another $5.3 billion in Indiana plant to expand Mounjaro, Zepbound supply
Publishing timestamp: 2024-05-24 10:10:14
Summary
Eli Lilly is investing $5.3 billion in a manufacturing plant in Indiana to expand supply of its weight loss drug Zepbound and diabetes treatment Mounjaro, as demand has outpaced supply. This brings Eli Lilly's total investment at the site to $9 billion, making it the company's largest manufacturing investment in its history. The plant is expected to start making medicines by the end of 2026 and scale up operations through 2028. The company has also hiked its full-year revenue outlook due to increased production of these drugs.
Sentiment: POSITIVE
Keywords: biotechnology, eli lilly and co, pharmaceuticals, business, biotech and pharmaceuticals, business news, health care industry,
Source: https://www.cnbc.com/2024/05/24/eli-lilly-invests-to-increase-mounjaro-zepbound-supply.html