Eli Lilly said on Wednesday that it plans to invest an additional $4.5 billion across two of its three manufacturing facilities in Indiana, raising the U.S. drugmaker’s total capital investment commitments in the state since 2020 to more than $21 billion.
The new investment is intended to support the planned production of Foundayo, Lilly’s recently approved once-daily oral weight-loss treatment, as well as retatrutide, its next-generation obesity drug candidate currently in late-stage development.
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Since last year, global pharmaceutical companies have been increasing U.S. manufacturing capacity and building inventory reserves as the Trump administration moves toward imposing 100% tariffs on branded medicines unless drugmakers lower prices or shift production to the United States.
Eli Lilly said the latest investment will introduce advanced process designs and new technologies at one of its upcoming active pharmaceutical ingredient (API) facilities, as well as at its first dedicated genetic medicine manufacturing site.
The company added that its newly launched Lebanon Advanced Therapies facility will support both clinical and commercial-scale production of genetic medicines, covering everything from early research-stage development to large-scale commercial manufacturing.
The facility is the first of three planned developments on the Lebanon campus, which will also house the Lilly Lebanon API site and the Lilly Medicine Foundry.
“When our Lebanon API site opens in 2027, it will be the largest API production site in U.S. history, a commitment we chose to build here, at home,” said CEO David Ricks.
Eli Lilly has committed more than $50 billion toward U.S. capital expansion projects since 2020 and plans to begin construction on several newly announced manufacturing facilities later this year.
In a separate development, Bloomberg News reported on Wednesday that Lilly is preparing to sell roughly $8 billion in bonds to help finance its recent acquisition activities.
According to Dealogic data, Lilly has spent more than $30 billion on deals this year as major pharmaceutical companies seek to diversify their portfolios and strengthen drug pipelines ahead of upcoming patent expirations.
