Lilly said on Fridaysafecrackermegaways, it will invest another $5.3 billion in a pharmaceutical factory in the Lebanon area of Boone County, Ind., area to increase the supply of its popular weight-loss drug Zepbound, diabetes treatment drug Mounjaro and other drugs.
In the past year, demand for Lilly's drugs far exceeded supply, putting it in short supply in the United States and forcing the pharmaceutical giant to invest heavily to expand its production.
The new commitment brings Lilly's total investment in the plant to $9 billion. Lilly CEO David Ricks said in a statement that this makes it the largest pharmaceutical plant investment in Lilly's nearly 150-year history.
Lilly expects that pharmaceutical plants in Lebanon will start producing drugs by the end of 2026 and expand operations by 2028. In 2022, the company announced plans for the first time to build a new plant in Indiana.
The plant will specifically enhance Lilly's ability to produce Zepbound and Mounjaro active ingredients tirzepatide. The company calls these treatments incretin drugs, which mimic certain gut hormones to suppress a person's appetite and regulate blood sugar.
"This multi-location campus will enable our latest drugs-including Zepbound and Mounjaro-to support growth in our pipelines and leverage the latest technology and automation to achieve maximum efficiency, safety and quality control," Lilly CEO Ricks said in a statement.
Lilly said it will have 900 staff members when the site is fully operational, including engineers, scientists, operators and laboratory technicians.
Since 2020, Lilly has spent more than $18 billion building, expanding and purchasing manufacturing plants in the United States and Europe.