Eli Lilly Boosts Indiana’s Biotech Hub with $4.5 Billion ‘Medicine Foundry’ Investment

Eli Lilly Boosts Indiana's Biotech Hub with $4.5 Billion 'Medicine Foundry' Investment

by John Conrad| Oct 3, 2024| Member News

Eli Lilly and Company, a leading pharmaceutical giant, has announced plans to invest $4.5 billion in a groundbreaking new facility aimed at revolutionizing drug production and accelerating the development of medicines for clinical trials. The announcement comes as Lilly continues to strengthen its position in the rapidly growing market for weight-loss and diabetes treatments.

The Lilly Medicine Foundry

The new center, dubbed the "Lilly Medicine Foundry," will be located in Lebanon, Indiana, as part of the LEAP Research and Innovation District. Set to open in late 2027, this state-of-the-art facility will combine advanced manufacturing capabilities with innovative drug development processes. The Medicine Foundry represents a unique approach in the pharmaceutical industry, merging research and manufacturing under one roof.

Key features of the Lilly Medicine Foundry include:

• Focus on developing new manufacturing methods for medicines
• Increased capacity for producing experimental drugs for clinical trials
• Flexible design to accommodate various molecular therapies, including small molecules, biologics, and nucleic acid therapies
• Potential to increase Lilly's output by up to 400%, according to CEO David Ricks

Expanding Workforce and Economic Impact

The investment is expected to create 400 new full-time jobs for highly skilled workers, including engineers, scientists, operations personnel, and lab technicians. This expansion aligns with Lilly's ongoing commitment to growth in Indiana, where the company has deep historical roots.

Indiana Governor Eric J. Holcomb praised the investment, stating, "Lilly's continued investment in Indiana solidifies our state's role as a hub for cutting-edge science and technology."

Meeting Growing Demand

Lilly's investment comes at a crucial time as the company faces surging demand for its popular weight-loss and diabetes drugs, Zepbound and Mounjaro. The GLP-1 agonist market, in which Lilly is a leader alongside Danish competitor Novo Nordisk, is projected to reach $150 billion by the early 2030s.

The new facility will help Lilly address supply challenges and support the development of its robust pipeline, which includes promising obesity and neurological disease treatments such as:

• Orforglipron, an oral drug candidate
• Retatrutide, an injectable drug candidate in late-stage studies

Part of a Larger Investment Strategy

The Lilly Medicine Foundry is the latest in a series of significant investments by the company:

• May 2022: $2.1 billion for two manufacturing sites in Lebanon
• April 2023: Additional $1.6 billion investment
• May 2024: $5.3 billion commitment to enhance capacity for active pharmaceutical ingredients

With this new investment, Lilly's total capital commitment in the United States since 2020 now exceeds $23 billion, underscoring the company's dedication to innovation and growth in the pharmaceutical industry.

This article was developed based on a press release issued by Eli Lilly and Company on October 2, 2024.