Eli Lilly (NYSE:LLY) announced that it plans to invest more than $6 billion in a new manufacturing facility in Huntsville, Alabama. The next-generation synthetic medicine active pharmaceutical ingredient (API) facility marks the third of four new U.S. sites. It follows the new facilities announced in Virginia and Texas. Eli Lilly plans for the plant to produce small-molecule…
Lilly plans new oral medicine manufacturing plant in Europe
Eli Lilly (NYSE:LLY) announced today that it plans to build a new $3 billion manufacturing facility in Katwijk, the Netherlands. Located within the Leiden Bio Science Park, the new project aims to expand Lilly’s capacity to produce oral medicines. The company also hopes to strengthen its global supply chain with the new plant. Indianapolis-based Lilly…
Eli Lilly invests more than $1.2B in Puerto Rico plant
Eli Lilly (NYSE:LLY) announced today that it plans to invest more than $1.2 billion to expand and modernize a manufacturing site in Puerto Rico. The company plans to integrate advanced technologies and expand production capacity within the existing campus at its Lilly del Caribe plant in Carolina, Puerto Rico. It hopes to support its growing…
Eli Lilly to build $5B manufacturing plant in Virginia
Eli Lilly (NYSE:LLY) announced today that it plans to build a $5 billion manufacturing facility in Goochland County, Virginia. The new site, just west of Richmond, will be the company’s first dedicated, fully integrated active pharmaceutical ingredient (API) and drug product facility for Lilly’s emerging bioconjugate platform and monocloncal antibody portfolio, according to a news…
Roche enters red-hot metabolic disease market with Carmot Therapeutics acquisition
Swiss pharma giant Roche had a limited presence in metabolic disease, but the firm has agreed to take over obesity drug developer Carmot Therapeutics for $2.7 billion, rivaling the dominance of next-gen obesity drug developers Novo Nordisk and Eli Lilly. Carmot had been a rising star in biotech, attracting significant funding, including a $150 million…
Lilly acquires Point Biopharma amid third FDA rejection in 2023
Eli Lilly and Company has recently received its third FDA rejection for the year 2023. The most recent came for lebrikizumab, the company’s investigational treatment for atopic dermatitis. FDA made the decision following an inspection of a third-party contract manufacturing organization. The agency had no complaints concerning the clinical data, safety, or labeling of lebrikizumab,…
Lilly prices first sustainability bond
Eli Lilly and Company (NYSE: LLY) has announced its plan to issue €600 million in aggregate principal in the amount of 0.50% notes with 12-year maturity as part of its Environmental, Social and Governance (ESG) strategy. In May, the company announced that it had updated its Environmental, Social and Governance (ESG) strategy, bolstering its investment…
U.S. government halts use of Lilly’s bamlanivimab monotherapy
The spread of SARS-CoV-2 variants has convinced the U.S. government to stop using Lilly’s COVID-19 monoclonal antibody therapy bamlanivimab when used alone. The U.S. government will continue using bamlanivimab when paired with etesevimab, another monoclonal antibody. The government pointed to the rising number of SARS-CoV-2 variants across the country as the reasoning behind the decision.…
Eli Lilly CFO departs amid accusations of ‘inappropriate’ communications with staff
Eli Lilly (NYSE:LLY) has announced that its chief financial officer Joshua Smiley has resigned. An independent investigation with external counsel discovered “consensual though inappropriate” communications between Smiley and a number of employees, according to a Lilly statement. Lilly has installed a replacement, Anat Ashkenazi, who has worked at the company for almost 20 years. “We are…