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Lilly will add an extra $5.3 billion to the research and innovation district in Lebanon

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Indianapolis, Indiana – Based in Indianapolis Lilly declared on Friday that it will increase its contribution to a Boone County research facility by over twofold.

Governor Eric Holcomb and Lilly Chair and CEO David Ricks broke the news during the Indiana Global Economic Summit in downtown Indianapolis.

Lilly has invested a total of $9 billion in the LEAP Research and Innovation District in Lebanon with this additional $5.3 billion expansion.

“We’re basically adding to the scope of the site we were originally announced by almost a factor of three,” said Ricks.

According to Ricks, the extra funding will increase the company’s ability to produce pharmaceutical ingredients for its most recent type 2 diabetes and obesity medications.

The company will be able to produce more of its novel weight-loss medications thanks to the expansion.
which explains in part the enormous $5 billion expansion to the first project.

“We can’t meet the demand that’s there,” said Ricks.

According to Lilly, the company also works to stop patients from taking fake versions of its weight-loss medications.

“People buying illicit material mostly from Asian labs that are imported that we don’t even know is Tirzepatide. That’s quite a dangerous thing to do. We don’t encourage it, so what we need to do is step up and make more,” said Ricks.

Governor Holcomb views this as yet another significant victory for the state.

“What’s so gratifying to me is where this is going to lead to. The opportunities for Hoosiers and of course what the medication is going to do for someone’s quality of life,” said Holcomb.

Lilly also intends to add 200 more full-time positions for highly qualified professionals, including lab technicians, scientists, engineers, and operating staff, bringing the company’s total anticipated additional employment at LEAP to 900.

“These are high paying jobs in engineering, science, and working the shop floor to make the medicines themselves,” said Ricks.

The intention is for as many native Hoosiers to hold such positions as possible.

“We’re encouraged we can staff the site with high quality workers and that we’ll meet our needs. In fact, Purdue is developing a pharmaceutical engineering program, which is 30 miles away and we’ll have a close partnership on that,” said Ricks.

Lilly first declared in May 2022 that it will invest $2.1 billion and add 500 new positions at LEAP. Lilly announced 200 new employment and an additional $1.6 billion investment at the Boone County location during the groundbreaking in Lebanon in April 2023.

 

 

 

 

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