Potential Lilly Investment Would Further Expand Indianapolis Insulin
$180 million investment would support growing diabetes care need
INDIANAPOLIS, April 2, 2013
INDIANAPOLIS, April 2, 2013 /PRNewswire/ --Eli Lilly and Company (NYSE: LLY)
today announced that it is working closely with the city on a proposal to
invest an additional $180 million in the company's Indianapolis-based insulin
manufacturing operations. The investment is in addition to the company's
November 2012 announcement of a $140 million expansion of the company's
Indianapolis insulin manufacturing operations. Together, the investments would
enable Lilly to meet the growing insulin demand given the rise in diabetes
prevalence across the U.S.
Lilly also is proposing several other ancillary investment projects totaling
about $80 million, including a $40 million product-inspection center.
The latest $180 million proposed investment is two-fold:
oLilly would add a second insulin cartridge-filling line to the overall
scope of the previously announced expansion, bringing the total to two
oThe second piece of the investment would support Lilly's efforts to
increase its insulin-active-ingredient manufacturing capacity. Designed to
increase annual insulin output, this effort would help Lilly boost
productivity without building a new manufacturing plant or adding to its
cost structure. The project also would support Lilly's commitment to
maintain the highest quality standards.
"Lilly is making significant investments to support our current portfolio of
diabetes medicines," said Enrique Conterno, president of Lilly Diabetes. "We
are also continuing to search for new and better treatment options. We have
one of the strongest diabetes pipelines in our history--including four
molecules in late-stage development--that could help support the needs of
people with diabetes."
"We believe Indianapolis is a good place for this investment, as we will
continue to benefit from the engaged, committed, and highly skilled work force
we have in this city," said Myles O'Neill, Lilly manufacturing's senior vice
president of global parenteral drug product and delivery devices.
"Lilly could have made this investment anywhere in the world, but the fact
that it continues to expand in Indianapolis is a testament to the great
business climate and workforce in our city," said Mayor Greg Ballard. "I want
to underscore that despite challenging economic times, in the past six months,
Lilly has announced proposed plans to invest more than a quarter of a billion
dollars in our city and create jobs for many highly skilled people. This is
great news for Indianapolis."
Construction supporting the additional insulin-cartridge-filling line could be
completed by 2016. During the construction period, construction-trade staffing
would average about 100, with peak employment of approximately 140 workers at
Construction work in the insulin-active-ingredient production area could be
completed by December and operational by March 2014. Lilly anticipates that
construction-worker numbers would average around 70 and peak at around 160
during the proposed project. This portion of the investment would enable Lilly
to increase its annual output of insulin active ingredient--the medicine that
goes into the vials and cartridges that patients use.
Once operational, approximately 175 full-time, highly skilled, specialized
technicians, scientists, and engineers would be needed to manage operations in
the cartridge-filling and insulin-active-ingredient manufacturing areas.
Filling insulin cartridges will be a new technology for Lilly's U.S.
manufacturing operations. Lilly sites in the U.S. currently only fill insulin
vials, which are used with a traditional syringe or an insulin pump.
Cartridges, however, are used in insulin "pens," which are growing in
popularity in the U.S.
About Eli Lilly and Company
Lilly, a leading innovation-driven corporation, is developing a growing
portfolio of pharmaceutical products by applying the latest research from its
own worldwide laboratories and from collaborations with eminent scientific
organizations. Headquartered in Indianapolis, Ind., Lilly provides answers-
through medicines and information- for some of the world's most urgent
medical needs. Additional information about Lilly is available at
(317) 433-9899- Ed Sagebiel; firstname.lastname@example.org
(317) 433-3246- Andrew McLaughlin; email@example.com
(Logo: http://photos.prnewswire.com/prnh/20031219/LLYLOGO )
SOURCE Eli Lilly and Company
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