Pharmaceutical giant expects the move will create 3,000 high-skilled jobs and provide work for approximately 10,000 construction workers.
Eli Lilly (LLY) plans to invest at least $27 billion to build four new pharmaceutical manufacturing sites in the U.S., as the company looks to ramp up its domestic drug productions amid the threat of possible tariffs.
Eli Lilly and Co (NYSE:LLY) plans to invest at least $27 billion in four new US manufacturing facilities, the company announced during an event in Washington DC. Three of the facilities will focus on producing active pharmaceutical ingredients (APIs) for drugs like Zepbound and Mounjaro, while the fourth will expand the company's capacity for future injectable medications.
Eli Lilly & Co.'s stock rose 1.6% Wednesday, after the drug company announced plans to expand its U.S. manufacturing sites by adding four more locations this year, along with 13,000 high-wage jobs.
Eli Lilly said it will invest at least $27 billion to build four new manufacturing sites in the U.S. as demand for its weight loss and diabetes injections soars and the company develops new drugs.
CNBC's Angelica Peebles and Eli Lilly CEO David Ricks, join 'Squawk on the Street' to discuss the company's U.S. manufacturing sites expansion, tariffs and domestic jobs.
Eli Lilly plans to spend at least $27 billion to build four new manufacturing plants in the U.S., the drugmaker said at a Washington press conference on Wednesday, as it grapples with the threat of drug import duties from the Trump administration.
Eli Lilly said it will invest at least $27 billion to build four new manufacturing sites in the U.S. as demand for its weight loss and diabetes injections soars and the company develops new drugs. The move comes as companies work to build goodwill with President Donald Trump, who has emphasized reshoring manufacturing to the U.S. and reducing reliance on foreign supply chains.
Eli Lilly (LLY) on Tuesday lowered the price of its weight-loss drug Zepbound for some patients paying out of pocket and introduced two new available vial doses.
Eli Lilly (LLY 2.10%) stock defied today's market downturn, rising 2.6% through 11:15 a.m. ET on the back of two positive press releases.
Eli Lilly and Co (NYSE:LLY) has announced a reduction in the price of its weight-loss medication Zepbound for patients who pay for the drug out of pocket. The company is now offering higher-dose 5mg vials of Zepbound at a discounted rate of $499 per month, a $150 decrease from the previous price of $649 for the auto-injector pen versions.
Eli Lilly investors have been "quietly" loading up, as the stock outperformed the S&P 500. Lilly has been making gains against Novo Nordisk, and the advance may not be over. Policy risks and pricing changes could be risks to consider later, but the stock is still assessed to be undervalued when we consider LLY's PEG ratio.