INDIANAPOLIS, March 24, 2017 /PRNewswire/ -- Eli Lilly and
Company (NYSE: LLY) today announced plans to invest $850 million in its U.S. operations in 2017. The
company's investments span facilities across its U.S. enterprise,
including research laboratories, manufacturing sites, and general
and administrative areas. The investments are being driven by
demand for Lilly products, as well as its robust pipeline of
potential medicines in development targeting cancer, pain, diabetes
and other unmet medical needs.
Company leaders were joined by federal, state and local
government officials at Lilly Technology Center, where the details
of the investments were unveiled, including plans for a new
$85 million expansion of its
Trulicity® (dulaglutide) device assembly operations in the U.S.
This expansion is part of a massive five-year investment by the
company to expand its diabetes products manufacturing operations in
the U.S., which also includes a $140
million insulin cartridge production facility that was
officially dedicated at today's announcement.
David A. Ricks, Lilly's president
and chief executive officer, said that Lilly's potential for growth
and its long-standing commitment to the U.S. market led to its
decision to invest in its U.S. operations and expand its
manufacturing footprint in Indianapolis.
"Our future at Lilly is bright, as we're on a path to launch 20
new products in a 10-year time frame," Ricks said. "As we have for
our entire 140-year history, we continue to see Indiana and the
United States as attractive places to research and make the
medicines that we sell around the world."
Ricks explained that Lilly's $850
million investment will fund both projects that are already
underway as well as new projects that will be initiated throughout
the course of the year, including additional projects in
Indianapolis.
Diabetes products manufacturing investment
Company officials focused much of today's announcement around
its massive investment in diabetes products manufacturing. Over the
course of the last five years (2012-2016), Lilly has invested
approximately $1.1 billion to boost
its diabetes products manufacturing operations in the U.S. These
investments include upgrades to existing facilities, as well as the
addition of new capacity and capabilities based on the evolution of
the company's diabetes pipeline and portfolio and the increased
prevalence of the disease.
During this period, Lilly has increased its U.S manufacturing
workforce by more than 1,000 employees—from 5,000 to 6,000
roles—with approximately 400 added in Indianapolis.
"More than 400 million people around the world have diabetes—and
that includes approximately 30 million people in the U.S. alone,"
said Enrique Conterno, president,
Lilly Diabetes and Lilly USA.
"Lilly has spent more than 90 years providing solutions to people
with diabetes, and today's announcement extends the deep commitment
of our heritage. This manufacturing expansion, along with the
introduction of several other new treatments over the last two and
a half years, will allow Lilly to continue to be a leader in
diabetes care."
Conterno added that the new investments underscore Lilly's
diabetes manufacturing presence in Indianapolis. Lilly's state-of-the-art
manufacturing facility in Indianapolis is part of the company's
nine-decade legacy of producing insulin.
"In addition to providing the capacity necessary for the safe
and reliable supply of medicines to patients, these investments
have allowed us to add U.S. manufacturing jobs," said Maria Crowe, president of Lilly Manufacturing.
"These include highly-skilled technicians, scientists and
engineers, which are an economic catalyst for local
communities."
Further, Crowe noted that during the past five years,
construction-trade staffing has averaged nearly 500 jobs, and had a
peak level of nearly 1,000 workers. The ongoing operations together
with the investment programs will continue to require a significant
level of construction-trade workers at the Lilly Technology
Center.
"Lilly's announcement today is a clear example of what a
fiscally sound state with a strong business climate—coupled with a
world-class company—can achieve," said Indiana Gov. Eric J.
Holcomb. "I am grateful for Lilly's continued investment in
Hoosiers and in our home state, and will work to maintain the
strength of the life-sciences industry and advanced manufacturing
in Indiana."
"Despite a global presence and diverse interests, Lilly's
continued investment in Indianapolis is a testament to their
exceptional level of faith in our workforce and a decades-long
commitment to this community," said Indianapolis Mayor Joe
Hogsett. "As the biotech industry continues to grow in
Indianapolis, Lilly remains a
clear leader, bringing advancements to the field and high paying
jobs to the city. I'm excited for what today's announcement
means for the company's future and look forward to Lily's continued
advancements as their footprint in our city grows."
Ricks concluded by saying that Lilly has invested approximately
$5 billion in its U.S. facilities
during the last decade and that more investments can be expected,
particularly if the U.S. adopts a more favorable tax
environment.
"The equitable treatment of foreign earnings, a lower U.S.
corporate tax rate, and U.S. innovation incentives—similar to the
rest of the world—will encourage significant investment in the
U.S., creating economic growth and good jobs for Americans," said
Ricks. "The House Republican Blueprint with border adjustability is
designed to achieve these priorities, puts America's global
companies on a level playing field with competitors around the
world, and creates economic growth and employment within the
U.S."
About Eli Lilly and Company
Lilly is a global
healthcare leader that unites caring with discovery to make life
better for people around the world. We were founded more than a
century ago by a man committed to creating high-quality medicines
that meet real needs, and today we remain true to that mission in
all our work. Across the globe, Lilly employees work to discover
and bring life-changing medicines to those who need them, improve
the understanding and management of disease, and give back to
communities through philanthropy and volunteerism. To learn more
about Lilly, please visit us at www.lilly.com and
www.lilly.com/newsroom/social-channels. C-LLY
This press release contains forward-looking statements (as
that term is defined in the Private Securities Litigation Reform
Act of 1995) about the benefits of planned capital projects, and
reflects Lilly's current beliefs, assuming that the capital
projects are successfully completed. However, as with any such
undertaking, there are substantial risks and uncertainties in the
process of capital project implementation and completion. Among
other things, there can be no guarantee that the projects will be
completed on the anticipated timeline or at all or that Lilly will
realize the expected benefits of the projects. For further
discussion of these and other risks and uncertainties, please see
Lilly's latest Forms 10-Q and 10-K filed with the U.S. Securities
and Exchange Commission. Except as required by law, Lilly
undertakes no duty to update forward-looking statements.
Trulicity® (dulaglutide, Lilly)
Refer
to:
|
Mark Taylor;
taylor_mark_e@lilly.com; 317-354-7045
|
|
Greg Kueterman;
kueterman_gregory_andrew@lilly.com; 317-277-4021
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lilly-announces-850-million-investment-in-us-capital-projects-in-2017-300428985.html
SOURCE Eli Lilly and Company