Lilly punts another $5.3 billion on increasing production of tirzepatide
US pharma major Eli Lilly (NYSE: LLY) today revealed that it has more than doubled its investment in its Lebanon, Indiana, manufacturing site with a new $5.3 billion commitment, increasing the company's total investment in this site from $3.7 billion to $9 billion.
This expansion will enhance Lilly's capacity to produce active pharmaceutical ingredients (API) for Zepbound (tirzepatide) injection and Mounjaro (tirzepatide) injection so that more adults with chronic diseases like obesity and type 2 diabetes may benefit from these important treatments.
Demand for Zepbound and Mounjaro has far outpaced supply over the past year, spurring shortages in the US and forcing Lily to invest much more to scale up its manufacturing. Rival Novo Nordisk (NOV: N) has also faced shortages of its semaglutide, the active ingredient of its mega-blockbuster obesity drug Wegovy, causing the Danish company to invest heavily to remedy the situation.
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