USA – Eli Lilly and Company has announced that it will invest more than US$1 billion in a new manufacturing facility in North Carolina.
Eli Lilly’s new facility in Concord, North Carolina, which is expected to bring nearly 600 jobs, will manufacture parenteral (injectable) products and devices while increasing the company’s manufacturing capacity.
According to a news release, the company chose Concord as the location due to the local labor force’s experience in manufacturing technology, its proximity to universities with strong science, technology, engineering, and math (STEM) programs, and its access to major transportation infrastructure.
The company announced a US$470 million investment in Research Triangle Park, North Carolina, last year.
The new Concord location, along with the investment in Research Triangle Park, will allow Lilly to strengthen relationships with local governments and universities while diversifying its presence in the state, according to Lilly.
The company anticipates that the new facility will result in the creation of nearly 600 new jobs for highly skilled workers such as scientists, engineers, and manufacturing personnel.
While the facility is being built, an additional 500 positions are expected to be created. The investment in Concord is still subject to completion of county and municipal government permitting and related approvals.
Commenting on this latest development Lilly’s Manufacturing Operations SVP and President Edgardo Hernandez said, “Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world.”
“Expanding our manufacturing footprint in North Carolina enables us to continue to produce today’s medicines while providing additional capacity to manufacture the medicines of tomorrow,” he added.
Lilly could receive US$12.1 million in state payments if it meets investment and job-creation targets set by the state as the basis for an incentives award.
Next month, leaders in Concord and Cabarrus County will meet to discuss performance-based property tax grants.
Meanwhile, Eli Lilly and Company recently announced that it expects the U.S. Food and Drug Administration to deny expanded use of its rheumatoid arthritis drug, Olumiant, as a treatment for adults with moderate-to-severe eczema.
“At this point, the company does not have alignment with the FDA on the indicated population,” the drugmaker said.
Olumiant, developed by Incyte Corp and licensed to Lilly, belongs to a class of drugs known as JAK inhibitors, which came under regulatory scrutiny after Pfizer’s arthritis drug Xeljanz was linked to an increased risk of serious heart problems and cancer in a February trial.
The drug’s path to approval has been difficult, with the FDA repeatedly extending its review timeline.
Rinvoq, AbbVie’s rival eczema drug, as well as Pfizer’s Cibinqo, faced similar regulatory hurdles before being approved by the FDA earlier this month.
Liked this article? Sign up to receive our regular email newsletters, focused on Africa and World’s healthcare industry, directly into your inbox. SUBSCRIBE HERE
