Eli Lilly beefs up plan to expand manufacturing for popular drugs Zepbound, Mounjaro [Yahoo! Finance]
Eli Lilly and Company (LLY)
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Source: Yahoo! Finance
The drugmaker said Friday that it was more than doubling its investment in a site near its Indianapolis headquarters. But it will take time for the location to start producing. The company broke ground for its Lebanon, Indiana, manufacturing plant last year and expects to start making products there near the end of 2026. Production will then increase through 2028. Lilly said it would add $5.3 billion to the $3.7 billion it had already slated for the site. Company officials said in a statement that this amounts to the largest manufacturing investment in the company's history, which dates back to the 19th century. The site will make tirzepatide, the main ingredient behind both Mounjaro and Zepbound. Zepbound, the weight-loss treatment, received U.S. regulatory approval last fall. The two drugs combined to generate more than $2 billion sales in this year's first quarter. But Lilly has struggled to make enough supply to keep up with the growing demand, as has its rival, the Dan
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LLY
Earnings
- 4/30/24 - Beat
LLY
Sec Filings
- 6/14/24 - Form 144
- 6/11/24 - Form 4
- 6/10/24 - Form 4
- LLY's page on the SEC website