Eli Lilly to invest additional $1.6 billion in 2 new plants

(Reuters) – Eli Lilly and Co said on Monday it will invest an additional $1.6 billion at its two new manufacturing sites in Indiana, United States to support the manufacturing of its recently approved cancer drug, Jaypirca, among others.

The company’s total investment commitment in the facilities now stands at $3.7 billion, Eli Lilly said.

Lilly has invested $6.4 billion over the last three years in boosting its manufacturing capacity in the U.S. and plans to scale up further as it prepares for launches of new medicines to treat obesity, Alzheimer’s disease and autoimmune conditions. The company said.

The company in January announced plans to invest an additional $450 million to expand capacity of a plant in North Carolina and meet the strong demand for its blockbuster diabetes drug Trulicity and recently launched Mounjaro. Its commitments for expansion of the North Carolina site are $1.7 billion.

(Reporting by Leroy Leo in Bengaluru; Editing by Shinjini Ganguli)