Reported 7 months ago
Eli Lilly has revealed its latest manufacturing plant in Concord, North Carolina, to address manufacturing bottlenecks for GLP-1 drugs, Mounjaro for diabetes and Zepbound for weight loss, with the new facility set to produce injectable pens starting in 2025. The company plans to expand manufacturing to meet high demand, with the new facility, costing $2 billion, being completed in two years rather than the typical five, thanks to North Carolina's support and streamlined FDA collaboration. The company aims to build 10 to 15 new facilities to keep up with current demand, with Wall Street predicting $13.5 billion in revenue from GLP-1 drugs in 2024, prompting a $2 billion increase in 2024 guidance.
Source: YAHOO