{"id":1004731672,"date":"2024-10-03T03:15:09","date_gmt":"2024-10-03T11:15:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004731672"},"modified":"2024-10-08T07:40:21","modified_gmt":"2024-10-08T15:40:21","slug":"eli-lilly-launches-4-5b-research-and-manufacturing-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/eli-lilly-launches-4-5b-research-and-manufacturing-center\/","title":{"rendered":"Eli Lilly Launches $4.5B R&D, Manufacturing Center"},"content":{"rendered":"\n

Eli Lilly and Co. is expanding its investment in Indiana\u2019s LEAP Research and Innovation District in Lebanon with the $4.5 billion development of the Lilly Medicine Foundry, the first facility to combine research and manufacturing in one location. With the addition of the Medicine Foundry, the firm\u2019s investment at the site will exceed $13 billion.<\/p>\n\n\n\n

The facility will give the Indianapolis-based company the ability to research new ways of producing medicines, while also scaling up production for clinical trials. It is slated to open in late 2027 and is expected to add 400 full-time jobs for highly skilled workers including engineers, scientists, operations personnel and lab technicians.<\/p>\n\n\n\n

\"Lilly<\/a>
Lilly Medicine Foundry is the first facility to combine research and manufacturing in one location. Image courtesy of Eli Lilly and Co.<\/em><\/figcaption><\/figure>\n\n\n\n

The Medicine Foundry will combine research, manufacturing and the latest technology to develop innovative solutions for new production methods, increase capacity for clinical trial medicine, scale global access for the company\u2019s growing pipeline while reducing costs and environmental impact. <\/p>\n\n\n\n

In particular, the facility will enable production of various molecular therapies, including drug substances for small molecules, biologics and nucleic acid therapies. The new technologies will then be transferred to other manufacturing sites for full-scale production.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Recovery Is in Sight for the Life Science Sector<\/a><\/p>\n\n\n\n

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The new location in LEAP will offer close proximity to the Lilly Research Laboratories in Indianapolis and the company\u2019s manufacturing sites in Lebanon.<\/p>\n\n\n\n

In May 2022, Lilly announced plans to invest $2.1 billion in two new manufacturing sites in Lebanon to expand its network for active ingredients and new modalities including genetic medicines. Lilly broke ground on those facilities nearly a year later and announced an additional $1.6 billion investment.<\/p>\n\n\n\n

This May, Lilly announced another $5.3 billion investment at the Lebanon manufacturing site<\/a> to increase production capacity for ingredients for its latest diabetes and obesity medicines, Zepbound and Mounjaro.<\/p>\n\n\n\n

Lilly CEO David Ricks told CNBC <\/em>yesterday the pharmaceutical giant has 11 obesity drugs in its pipeline and is also seeking to develop more treatments for neurodegenerative conditions like Alzheimer\u2019s disease and amyotrophic lateral sclerosis, or ALS. Mounjaro and Zepbound, part of a popular group of GLP-1 drugs like Novo Nordisk\u2019s Ozempic and Wegovy, have been successful products for Lilly. They are expected to provide $50 billion in revenue alone by 2028 or twice the company\u2019s entire 2022 revenue, according to CNBC.<\/em><\/p>\n\n\n\n

State support<\/h2>\n\n\n\n

The State of Indiana will provide infrastructure improvements at the site including roads, water, electricity and other utilities. The state will also offer economic incentives tied to Lilly\u2019s investment and employment goals in Lebanon.<\/p>\n\n\n\n

The Indianapolis Star <\/em>reported the Indiana Economic Development Corp. will contribute an additional $456 million in tax incentives based on achieving certain hiring goals. The newspaper stated Lilly\u2019s total incentive package would reach more than $1.25 billion, including an additional $20 million in redevelopment tax credits.<\/p>\n\n\n\n

Lilly began construction on its 600-acre campus last year. The combined projects are expected to bring about 1,300 jobs to the area as well as approximately 5,000 construction jobs.<\/p>\n\n\n\n

Indiana Secretary of Commerce David Rosenberg said in prepared remarks the LEAP district is quickly becoming an international destination with $18 billion in committed capital investment on 2,300 acres since its launch in 2022.<\/p>\n\n\n\n

The LEAP district is located about 30 miles to the northwest of Indianapolis and 35 miles to the southeast of Purdue University. The 9,000-acre site is located along Interstate 65 and is dedicated to the development of life science and tech-related office, industrial, mixed-use and multifamily projects.<\/p>\n\n\n\n

Expanding its reach<\/h2>\n\n\n\n

With the new investment in the Medicine Foundry, Lilly\u2019s total capital commitment in the U.S. has reached more than $23 billion since 2020.<\/p>\n\n\n\n

In August, Lilly opened its Lilly Seaport Innovation Center, a research and development facility in Boston\u2019s Seaport district<\/a>. The 12-story, 346,000-square-foot building at 15 Necco St. was developed by Alexandria Real Estate Equities Inc., in partnership with National Development. Lilly had preleased the building during its construction in early 2022.<\/p>\n\n\n\n

The company plans to use the site for research in RNA- and DNA-based therapies. It will also be used to pursue new medicines and treatments for diabetes and obesity as well as chronic pain, cardiovascular and neurodegenerative diseases.<\/p>\n\n\n\n

The company is also developing facilities in Concord and Research Triangle Park, N.C., as well as in Ireland and Germany. Lilly has also allocated $1.2 billion to upgrade its existing facilities in Indianapolis and acquire an injectable drug production plant previously owned by Nexus Pharmaceuticals.<\/p>\n","protected":false},"excerpt":{"rendered":"

The groundbreaking project will boost the company\u2019s investment in this innovation hub to $13 billion.<\/p>\n","protected":false},"author":1068,"featured_media":1004731699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1590,21748,13,21742,21747],"tags":[52412],"class_list":["post-1004731672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-indianapolis","category-industrial","category-midwest","category-latest","category-office","tag-eli-lilly"],"acf":[],"yoast_head":"\nEli Lilly Launches $4.5B R&D, Manufacturing Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Eli Lilly and Co. is expanding in Lebanon, Ind., with the $4.5 billion development of the Lilly Medicine Foundry within the LEAP district.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/eli-lilly-launches-4-5b-research-and-manufacturing-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eli Lilly Launches $4.5B R&D, Manufacturing Center\" \/>\n<meta property=\"og:description\" content=\"Eli Lilly and Co. is expanding in Lebanon, Ind., with the $4.5 billion development of the Lilly Medicine Foundry within the LEAP district.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/eli-lilly-launches-4-5b-research-and-manufacturing-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-03T11:15:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-08T15:40:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Lilly-Medicine-Facility_Lebanon-IN-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eli-lilly-launches-4-5b-research-and-manufacturing-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/eli-lilly-launches-4-5b-research-and-manufacturing-center\/\",\"name\":\"Eli Lilly Launches $4.5B R&D, Manufacturing Center - 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