Eli Lilly to Invest $4.5 Billion in New Medicine Foundry in Indiana
Indianapolis, IN – October 2023 – Eli Lilly and Company, a global leader in pharmaceuticals, announced today a groundbreaking investment of $4.5 billion to establish a state-of-the-art Medicine Foundry in Indiana. This expansive facility is set to bolster the company’s capacity for drug manufacturing, innovation, and development, significantly impacting the local economy.
The new Medicine Foundry, which will be located at the company’s Indianapolis campus, aims to streamline the production of medicines and enhance the speed at which new therapies can be brought to market. Eli Lilly officials revealed that the project will create approximately 5,000 new jobs over the next decade, providing a substantial boost to the local workforce.
“Indiana has been home to Eli Lilly for over 145 years, and we are thrilled to be making this significant investment in our home state,” said Eli Lilly CEO David Ricks. “This Medicine Foundry represents our commitment to advancing healthcare through innovation while fostering economic growth in the community.”
The investment comes at a critical time when the demand for pharmaceuticals has surged, particularly in the wake of the COVID-19 pandemic. Eli Lilly is focusing on enhancing its manufacturing capabilities to support the development of vital therapies for various diseases, including diabetes, cancer, and autoimmune disorders.
Local leaders and officials have expressed enthusiasm about the potential impact of this investment. Indiana Governor Eric Holcomb remarked, “Eli Lilly’s substantial commitment reinforces our state’s status as a global hub for life sciences. This project will not only create jobs but also position Indiana as a leader in pharmaceutical innovation.”
Construction of the new facility is expected to begin in early 2024, with plans to phase in operations over the following three years. The Medicine Foundry will incorporate advanced technology and sustainable practices, aligning with Eli Lilly’s commitment to environmental stewardship.
As the pharmaceutical industry continues to evolve, Eli Lilly’s investment in the Medicine Foundry signifies a strategic move to maintain its leadership position while delivering on its promise to improve patient outcomes through innovative therapies.
