haktutsspin2022| Lilly (LLY.US) plans to spend another $5.3 billion to expand Mounjaro and Zepbound production

Zhitong Finance APP learnedhaktutsspin2022, Lillyhaktutsspin2022.US) will spend an additional US$5.3 billion, in addition to the previously announced US$3.7 billion, to increase production capacity at its active pharmaceutical ingredient production base in Lebanon, Indiana.

The drugmaker said the investment will increase production of tirzepatide, the active ingredient in type 2 diabetes drug Mounjaro and weight loss drug Zepbound, in addition to increasing production of pipeline drugs.

LEAP Innovation Park's total production investment reaches US$9 billion, making it the company's largest production investment in history. Lilly noted that the new investment will add 200 full-time jobs for engineers, scientists, operators and laboratory technicians. When the plant is fully operational, it will have 900 full-time employees.

It is understood that Lilly's production base in the region will break ground in 2023. The plant is expected to start production at the end of 2026 and expand in 2028.