In addition to $3.7 billion investment in Boone County, Lilly will commit $15 million to Ivy Tech to foster a diverse talent pipeline for high-tech manufacturing jobs
INDIANAPOLIS, April 17, 2023 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) announced today that it will invest an additional $1.6 billion and add another 200 new jobs at its two new manufacturing sites within LEAP Innovation Park in Boone County, bringing the company's total commitment to $3.7 billion and up to 700 new jobs. The company also today committed $15 million over five years to the Ivy Tech Foundation to fund up to 1,000 scholarships for individuals interested in pursuing careers in pharmaceutical manufacturing.
Lilly's commitments within LEAP Innovation Park represent the largest manufacturing investment at a single location in the company's history. The up to 200 additional jobs announced today represent positions for highly skilled workers, such as engineers, operating personnel and lab technicians, who will utilize advanced technology to create innovative medicines.
"Through these new facilities, Hoosiers will make life-changing medicines that patients around the world need to address serious health challenges, including diabetes and cancer," said Lilly's Chair and CEO Dave Ricks. "We're investing at record levels in our home state to help our communities and economy thrive and enhance educational opportunities for more students. We look forward to doing our part to make Indiana an even better place to work and live, while fostering cutting-edge innovation in our state."
Lilly has introduced 19 new medicines, including Jaypirca (recently approved by the U.S. Food and Drug Administration for mantle cell lymphoma), since 2014 and plans to introduce several additional potential medicines in 2023. These new facilities will expand the company's manufacturing network for active pharmaceutical ingredients, support increased demand for existing Lilly products and play a key role in bringing the next generation of therapeutic modalities, including genetic medicines, to patients globally.
"Lilly has played a critical role in shaping Indiana's economy over the past 145-plus years, and today's groundbreaking makes it clear – the company will be at the forefront of driving Hoosier innovation and job creation forward for generations to come," said Indiana Governor Eric Holcomb. "As a state, we are proud to partner with Lilly in accelerating Indiana's talent pipeline and career opportunities while leveraging the state's manufacturing excellence to develop life-changing and life-saving solutions for people across the world."
The new $15 million Lilly Scholars program announced today with the Ivy Tech Foundation, will create a scholarship and an experiential learning program at Ivy Tech Community College for high school and college students with diverse backgrounds who intend to pursue careers in pharmaceutical manufacturing.
Over the next five years, the company's collaboration with Ivy Tech will provide scholarships to individuals interested in pursuing two-year degrees or certificates in manufacturing, quality or related fields. Through the Lilly Scholars @ Ivy Tech program, students will be able to access a smart manufacturing lab to support their education. Preference will be given to those who are among the first generation in their family to attend college – which constitutes 40% of Ivy Tech's student population – and those who have overcome socioeconomic disadvantages.
Additionally, the program supports a new pathway for high school students, which allows them to receive a college certificate in pharmaceutical manufacturing or medical device quality upon graduation.
"Today, we are taking our collaboration with Lilly to the next level with the creation of Lilly Scholars @ Ivy Tech," said President of Ivy Tech Community College, Dr. Sue Ellspermann. "Lilly Scholars provides high school and adult students with a unique opportunity to leverage the world-class education at Ivy Tech with an exceptional employer partner in Lilly and put their education to work in high-wage, high-demand careers that contribute to the growth and prosperity of our state."
Last year, Lilly committed $42.5 million over 10 years to Purdue University to create the first Lilly Scholars program, which includes 75-100 pharmaceutical manufacturing scholarships with a guaranteed internship or co-op at Lilly to incoming students each year.
"Today's announcements demonstrate the strong collaboration between industry, academia and government in Indiana," said Edgardo Hernandez, executive vice president and president, Lilly manufacturing operations. "Through our new academic commitment, we're looking to grow life sciences education in the state and foster a diverse pipeline of local talent to fill the new jobs created through our recent investments."
Over the past three years, Lilly has invested $6.4 billion in U.S.-based manufacturing sites to deliver medicines to patients worldwide. As Lilly prepares for future growth expected from potential new medicines to treat obesity, Alzheimer's disease and autoimmune conditions, the company anticipates further expansion of its global manufacturing footprint to ensure a sufficient supply of medicine.
About Lilly
Lilly unites caring with discovery to create medicines that make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 47 million people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges, redefining diabetes care, treating obesity and curtailing its most devastating long-term effects, advancing the fight against Alzheimer's disease, providing solutions to some of the most debilitating immune system disorders, and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/newsroom or follow us on Facebook, Instagram and LinkedIn. C-LLY
Forward Looking Statement
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about planned capital investments in new manufacturing capacity and scholarship and related initiatives and reflects Lilly's current beliefs and expectations. There are substantial risks and uncertainties in the manufacturing process, development, and commercialization of pharmaceutical products which could impact the overall commercial success of our products, and as related to cost, completion timing, expected capacity, personnel, and other factors which could impact expected benefits of the capacity expansion and related initiatives. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
Refer to: Carrie Munk; munk_carrie@lilly.com; 317-416-2393 (Media)
Joe Fletcher; jfletcher@lilly.com; 317-296-2884 (Investors)
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SOURCE Eli Lilly and Company
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