Eli Lilly to more than double U.S. manufacturing investment beyond $50B

Eli Lilly (NYSE:LLY) announced today that it plans to boost domestic pharmaceutical production with four new U.S. manufacturing sites.

The company’s investment in capital expansion across therapeutic areas in the U.S. now totals more than $50 billion since 2020.

Indianopolis-based Eli Lilly says three of the future U.S. sites will focus on manufacturing active pharmaceutical ingredients (API). This aims to reshore critical capabilities of small molecule chemical synthesis and further strengthen the company’s supply chain. The pharmaceutical giant’s fourth location will extend its global parental manufacturing network for future injectable therapies.

The new sites should create more than 3,000 jobs for highly skilled workers, Eli Lilly said. That includes engineers, scientists, operations personnel and lab technicians. The company also expects the creation of nearly 10,000 construction jobs during site development for the new locations.

From 2020 to 2024, Eli Lilly made $23 billion in total domestic capital expansion commitments. Today’s announcement more than doubles that to more than $50 billion. Those expansions include new sites in North Carolina, Indiana and Wisconsin.

“Lilly’s optimism about the potential of our pipeline across therapeutic areas – cardiometabolic health, oncology, immunology and neuroscience – drives our unprecedented commitment to our domestic manufacturing build-out. Our confidence positions us to help reinvigorate domestic manufacturing, which will benefit hard-working American families and increase exports of medicines made in the U.S.,” said David A. Ricks, Eli Lilly chair and CEO. “This bold move reflects our commitment to stay ahead of anticipated demand for safe, high-quality, FDA-approved medicines of the future.”

Edgardo Hernandez, EVP and president of Eli Lilly Manufacturing Operations, said the company wants to deliver on its big bets on next-generation modalities.

“We are not just building facilities,” said Hernandez. “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. This is a significant step for our company, our communities and the patients we serve.”