Eli Lilly to spend $72 million on upgrades to Indy insulin manufacturing facility
INDIANAPOLIS — Eli Lilly and Co. says it is going ahead with a $72 million project updating an insulin manufacturing facility in Indianapolis even as the drugmaker plans to cut about 3,500 jobs from its global workforce.
The Indianapolis-based company said Monday the project will replace an existing insulin vial filling line and allow it to meet growing demand for its insulin products.
Lilly says the work is among $850 million in planned U.S. capital projects that were announced in March.
Lilly has seen sales slump for top sellers like the insulin Humalog, but company CEO David Ricks said diabetes treatment remains a key area.
The company announced in September it would cut nearly 9 percent of its workforce, mostly through a voluntary retirement program in the United States.