Eli Lilly and Company is investing another $5.3 billion to expand its manufacturing capacity for tirzepatide, the company’s new diabetes/obesity medication. This brings Lilly’s total investment in a new plant in Boone County, Indiana to $8 billion.
The massive investment underscores Lilly’s confidence in the blockbuster potential of tirzepatide, which was approved last year as Mounjaro for type 2 diabetes and is currently under review for obesity. Analysts project peak annual sales could reach $9 billion or more if approved for weight loss.
The new facilities will allow Lilly to produce up to 1 million kilograms of active ingredient each year when fully operational in 2027-2028. This large-scale manufacturing will be crucial to meet anticipated high demand for the first-in-class medication if approved for obesity.
The expansion will add 500 new permanent jobs, on top of the 500 jobs Lilly had already planned for the Boone County site. It represents one of the largest investments in Lilly’s 147-year history in Indiana.
Lilly plans to start hiring for highly technical roles, such as biologics process engineers and biochemists, immediately. Construction is expected to begin later in 2023.
