Eli Lilly to Spend $715M on Insulin Production
Indianapolis-based Eli Lilly and Co. plans to invest more than $700 million to enhance its global insulin manufacturing capacity. The company said it will spend $350 million to expand its insulin cartridge manufacturing in China, another $120 million for a similar improvement in France and $245 million to boost manufacturing capacity in Puerto Rico and Indianapolis.
"Insulin is a cornerstone of diabetes treatment and its use will only continue to increase given the rising number of people with diabetes around the world," Lilly Diabetes president Enrique Conterno said in a statement.
In addition to committing to investments in manufacturing, the company is investing heavily in diabetes research. Lilly currently has 14 new molecular entities in clinical development, including three under regulatory review and another in Phase III, for the treatment of diabetes and related complications. Read the full release