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Yahoo Finance Health reporter Anjalee Khemlani joins the market dominance to break Eli Lilly’s investment in the new plant and what it means for the company.
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Eli Lilly (LLY) announced Wednesday that it is expanding U. S. production. Adding 4 new sites to build the production of key drug ingredients.
Three of the 4 sites will produce active pharmaceutical ingredients (APIs), which are key ingredients in medicines.
Lilly did not announce the site’s locations, but noted that it plans to create 3,000 jobs for the highly skilled staff at the end and approximately 10,000 structures of structures.
This marks an overall expenditure of approximately $50 billion since 2020 to develop a new capability.
“This ambitious move reflects our commitment to staying ahead of the expected call for safe, high-quality, FDA-approved drugs,” Eli Lilly CEO Dave Ricks said in a Wednesday.
The company began building capacity for its successful GLP-1 A products (Mounjaro for diabetes and ZepBound for weight loss) began to outpace supply. Ricks stated that between Lilly and competitor Novo Nordisk (NVO), there is more calling than any of the corporations.
Both corporations have already made ads for at least a new plant in the US. , However, today’s announcement marks a significant investment in other spaces for Lilly.
Recently, most APIs are produced and have become a topic of interest in recent years as the pandemic disrupted source chains and President Donald Trump engages in tariff wars.
The United States recently produces only about 4% of APIs. Meanwhile, India and China dominate the global market, with more than 60% of the API production divided between the two countries in some cases. Some knowledge involves approximately 20% of China’s general agency for API imports. Even so, the pharmaceutical industry is preparing for the price lists proposed by Trump on China and have an effect on what they can have on API prices.
Commerce Secretary Howard Lutnick, who once spoke in D. C. for the announcement, he said, “Eli Lilly is doing precisely what the president expected to happen” in reaction to the Arancela Wars.
Anjalee Khemlani is the senior healthcare reporter at Yahoo Finance, covering all things pharmacy, insurance, care services, virtual fitness, PBMs, fitness policy, and politics. These GLP-1s, of course. Follow Anjalee on social media platforms X, LinkedIn, and Bluesky @anjkhem.
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