Eli Lilly hikes investment to meet demand for diabetes, obesity drugs

MADISON, Wisconsin: Eli Lilly is doubling down on manufacturing investments, announcing a US$3 billion expansion of its Wisconsin facility to meet growing demand for its blockbuster diabetes and obesity drugs, Mounjaro and Zepbound.

The move marks another step in the company's effort to scale production as it eyes future growth.

The Kenosha County site, acquired earlier this year, will be significantly expanded, with construction set to begin in 2024. The investment is expected to boost the availability of injectable medications, a rapidly growing segment of Lilly's portfolio.

"These drugs brought in a combined $4.4 billion in sales for Lilly in this year's third quarter," the company said, highlighting their importance to its revenue stream.

The Wisconsin project is part of Lilly's broader push to enhance its manufacturing capabilities. Since 2020, the company has allocated over $23 billion to build, expand, or acquire facilities worldwide. Earlier this year, Lilly also announced major investments in facilities near its Indianapolis headquarters.