LEBANON, IND. — Eli Lilly and Co. (NYSE: LLY) has released plans for a $5.3 billion expansion of its manufacturing facility in Lebanon, roughly 27 miles northwest of Indianapolis. The investment is the largest in U.S. history for active pharmaceutical ingredient manufacturing, according to the company.
Lilly began developing the Lebanon site, located within the LEAP Research and Innovation District, in 2023. The expansion will enhance the company’s capacity to manufacture active pharmaceutical ingredients for its Zepbound and Mounjaro injectables, which are both diabetes and weight loss drugs. Lilly’s total investment in the site is now $9 billion.
Upon full build-out, the facility will staff 900 full-time employees. The company expects to begin manufacturing at the property in 2026, with operations scaling up through 2028.
The development will include the addition of a learning and training center built in conjunction with the State of Indiana, which will be utilized by the larger LEAP District. Lilly will also partner with the state on new infrastructural additions including roads, water, electricity and other utilities.
Since 2020, Lilly has committed more than $16 billion to develop new manufacturing sites in the U.S. and Europe, with developments located in the Research Triangle of North Carolina; Limerick, Ireland; and Alzey, Germany. The company has also invested $1.2 billion to update its existing facilities in Indianapolis and Pleasant Prairie, Wis.
Based locally in Indianapolis, Lilly is a pharmaceutical company with offerings for Alzheimer’s disease, pain management, cancer treatment, immune diseases, diabetes and obesity.
Lilly stock closed at $807.43 per share on Friday, May 24, up from $332.77 one year ago.
—Katie Sloan