Eli Lilly Plans To Invest €400M In Manufacturing Facility In Ireland: Report

Eli Lilly And Co LLY plans to invest more than €400 million into a new manufacturing facility in Limerick, Ireland, according to a report on gov.ie, a central portal for government services and information.

  • The plant itself will employ more than 300 once it's complete. In the meantime, Lilly plans to enlist some 500 temporary workers for the facility build.
  • The Limerick plant will boost Lilly's manufacturing network for biologic active ingredients, help meet "increased demand for existing Lilly products," and extend the geographic reach of the company's clinical pipeline. 
  • Lilly specifically singled out its "promising" Alzheimer's portfolio on the last point.
  • In a recent interview, Lilly could launch Alzheimer's hopeful donanemab toward the end of 2022, Anat Ashkenazi, Lilly's chief commercial officer, said
  • The anti-amyloid antibody, which would rival Biogen Inc's controversial Aduhelm (aducanumab), is up for accelerated approval. Lilly expects to complete its rolling FDA submission by the end of Q1 FY22.
  • Related: Lilly's Donanemab Lowers Alzheimer's-Associated Biomarkers In Patients With Early Disease.
  • The facility is expected to start the production of active pharmaceutical ingredients in 2022.
  • Lilly will submit a planning application with Limerick City and County Council in the next few weeks to win approval for the project.
  • Price Action: LLY shares are up 1.82% at $241.07 during the market session on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechNewsHealth CareGeneralAlzheimer's diseaseBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!