INDIANAPOLIS, Ind. — Eli Lilly and Co. announced plans for a major nationwide investment to expand operations, including an $85 million commitment in Indianapolis.
It’s part of an overall $850 million plan to expand research laboratories, manufacturing sites and office facilities across the country. The company said the expansion reflected demand for its products and commitment to the U.S. market.
“Demand for Lilly’s products continues to rise, and no more so than in our business unit for diabetes and the patients we serve with diabetes,” said Lilly President and CEO David Ricks.
Ricks said the company is in the midst of one of its most productive periods in its more than 140-year history, having launched seven new drugs since 2014. He said Lilly expected to launch another 13 drugs by 2023.
Ricks said the investments will help the company grow its manufacturing workforce in the U.S., but Ricks also said growth could be even greater. He criticized what he called the “antiquated” tax system that he said has hurt middle-class workers and led to stagnant growth. He voiced his support for cutting the corporate tax rate, an idea supported by the Trump administration.
Lilly’s expansion in Indianapolis will allow the drug maker to ramp up assembly of an injection device for the diabetes drug dulaglutide.
“Right here in Indiana, 12 percent of adults have diabetes. Diabetes has a real impact on society from human suffering to medical costs,” said Enrique Conterno, president, Lilly Diabetes and Lilly USA. “Our investments in research technology, talent and facilities bring innovative medicines to people with diabetes and drive jobs and economic growth in our headquarters city of Indianapolis.”
Indianapolis Mayor Joe Hogsett applauded Lilly’s investment, calling it a “joyous occasion” for the city.
“This financial commitment is indicative of the workforce here in this great city and the workforce across the United States of America,” Hogsett said. “This financial commitment—look I’m a homer here—is proof that Indianapolis is a place where innovation happens, and I’m extremely proud of that.”
Gov. Eric Holcomb recalled that Lilly has been a major part of Indiana and a global business leader. Like Hogsett, he welcomed the pharmaceutical company’s investment.
“Lilly’s achievements continue to help realize the true working potential of people by keeping once debilitating illnesses at bay. These breakthroughs help fuel the economic engine of our country, save lives and create opportunity both here and abroad. You’ve done so by remaining, every step of the way, committed to Indiana.”