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Stock impact report

Lilly unveils $3 billion production expansion in China [Yahoo! Finance]

Novartis AG (NVS) 
Last novartis ag earnings: 4/28 01:00 am Check Earnings Report
US:NYSE Investor Relations: novartis.com/investors
Company Research Source: Yahoo! Finance
This story was originally published on BioPharma Dive . To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter Dive Brief: Eli Lilly is boosting its production in China, announcing Wednesday a plan to invest $3 billion to build a “localized production and supply system for oral solid dosage forms” and bolster its capacity to distribute its first obesity pill, orforglipron, in China. The investment will involve Lilly's established facility in Suzhou as well as developing a network of partners to help expand production. As part of the announcement, Lilly said it has inked a $200 million deal with contract manufacturer Pharmaron that will allow it to expand scale “as needed.” U.S. and European drugmakers are deepening their investment in China, both to supply the local market and increasingly find and develop new medicines . Lilly recently expanded an already large collaboration with Suzhou-based Innovent to develop cancer and immune-disease dr Show less Read more
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