Eli Lilly (LLY, Financial) plans to invest an additional $3 billion to expand its production facilities in the U.S. to meet growing demand for its diabetes and weight loss drugs, Mounjaro and Zepbound. This expansion, set to begin next year in Wisconsin, marks Lilly's largest investment outside its Indiana headquarters.
The Wisconsin facility, located between Chicago and Milwaukee, will also handle assembly and packaging, creating 750 skilled jobs and 2,000 construction jobs. This move will increase Lilly's total investment in Wisconsin to $4 billion. Since 2020, Lilly has committed $23 billion globally to expand manufacturing capabilities.
Lilly aims to strengthen its supply chain amid increasing demand and recent drug shortages due to complex production processes.
