Eli Lilly is set to invest more than $470m to build a new pharmaceutical manufacturing facility in North Carolina, US.
North Carolina Governor Roy Cooper has also announced that Eli Lilly’s move will also help to create over 460 new jobs in the Durham region.
The new job roles will include skilled positions such as scientists, engineers, quality professionals and manufacturing operations.
Cooper said: “Our exceptional workforce draws global companies as we continue to grow North Carolina into a worldwide hub for the biotechnology industry.”
The new pharmaceutical manufacturing facility, which will be located at Research Triangle Park, will produce parenteral or injectable products and delivery devices.
At present, Lilly manages seven manufacturing facilities in the US states of Indiana, New Jersey and Puerto Rico.
The North Carolina Department of Commerce provided the state’s support for Eli Lilly during its site evaluation and decision-making process.
Eli Lilly’s North Carolina project will get assistance from the Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee.
The project is believed to grow the state’s economy by $4.1bn over the course of the 12-year term of this grant.
Lilly chairman and CEO David Ricks said: “This next-generation manufacturing facility will allow us to expand our capacity to make the Lilly medicines that are helping people with serious illnesses, and help us prepare for new medicines coming from our robust pipeline in the future.
“In the past two years, we have invested billions of capital in new U.S.-based manufacturing because the 2017 tax reform rebalanced the playing field in favour of the American worker.”
Recently, Eli Lilly agreed to acquire US-based biopharmaceutical company Dermira in an all-cash transaction valued at around $1.1bn.
Based in Menlo Park of California, Dermira is involved in the development of novel therapies to treat patients with chronic skin conditions.
Based in Indianapolis of Indiana, Eli Lilly focuses on the development of novel medicines to treat chronic health issues, including diabetes, cancer, autoimmune conditions, chronic pain, and Alzheimer’s disease.