Eli Lilly To Construct A New $2.5 Billion High-tech Manufacturing Site In Alzey, Germany

RTTNews | vor 344 Tagen
Stocktwits
Eli Lilly To Construct A New $2.5 Billion High-tech Manufacturing Site In Alzey, Germany

(RTTNews) - Eli Lilly and Co. (LLY) announced Friday plans to construct a new $2.5 billion high-tech manufacturing site in Alzey, Rhineland-Palatinate, Germany. This will further expand the company's global parenteral (injectable) product and device manufacturing network.

With the planned manufacturing facility in Alzey, Lilly will operate a total of six manufacturing sites in Europe, including one in nearby Fegersheim, France. With extensive experience across the pharmaceutical industry, Germany's workforce will play a vital role in bolstering Lilly's incretin supply when the new site is operational beginning in 2027. The site in Alzey will employ up to 1,000 highly skilled workers such as engineers, operators and scientists.

In addition, an estimated 1,900 jobs will be created during construction, which is scheduled to begin in 2024. Lilly's investment in Alzey is contingent upon finalization of government permitting and local approvals.

Lilly has announced investments of more than $11 billion in its global manufacturing footprint in the past three years to help ensure the safe and reliable supply of Lilly's innovative medicines. The company is also announcing an investment of up to $100 million to dramatically increase its footprint in Germany's early-stage biotech ecosystem.

Tags: LLY
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