10 02 2024 Gov. Holcomb Joins Lilly to announce additional $4.5 billion investment at LEAP District

New commitment brings company's total LEAP plans to over $13 billion to support current and future pipeline of medicines

INDIANAPOLIS- Today Governor Eric J. Holcomb joined Eli Lilly and Company (NYSE: LLY) Chair and CEO David A. Ricks to announce Lilly's plans to increase its investment at the LEAP Research and Innovation District in Lebanon. The new $4.5 billion expansion brings Lilly's total LEAP investment to more than $13 billion and will enable Lilly to significantly increase its internal capacity to produce more innovative and next-generation therapies for clinical trials.

"Lilly's continued investment in Indiana solidifies our state's role as a hub for cutting-edge science and technology," said Indiana Governor Eric J. Holcomb. "For nearly 150 years, Lilly has been committed to growing its roots and reach in Indiana, cultivating local talent, and driving scientific advancements that benefit patients around the world. I couldn't be more excited about the opportunities the Lilly Medicine Foundry will bring to communities throughout our great state."

The expansion includes the establishment of the Lilly Medicine Foundry (LMF) at the LEAP Research and Innovation District. This facility will be a new center for drug development and advanced manufacturing and will allow Lilly to develop and efficiently manufacture a wide range of molecular therapies, including small molecules, biologics and nucleic acid therapies.

"As we accelerate our work to discover new medicines for the toughest diseases, we're continuing to invest in stateside infrastructure to support our growing pipeline," said David A. Ricks, Lilly's chair and CEO. "In addition to supplying high-quality materials for our clinical studies, this new complex will further strengthen our process development and scale up our manufacturing capabilities to speed delivery of next-generation medicines to patients around the world."

Since 2020, Lilly has committed more than $20 billion to build, expand and acquire manufacturing facilities in the U.S. and Europe. In May 2022, Lilly first announced its plans to invest $2.1 billion and create up to 500 new jobs at LEAP. At the company's Lebanon groundbreaking in April 2023, Lilly announced an additional $1.6 billion investment and 200 new jobs at the site. During the 2024 Indiana Global Economic Summit, Lilly announced an additional $5.3 billion expansion and 200 more jobs. Once completed, LMF is expected to add an additional 400 full-time jobs.

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