Eli Lilly asks for a $24 million tax break for diabetes care facility expansion in Indianapolis

pharmafile | July 24, 2020 | News story | Medical Communications Eli Lilly, Humalog, diabetes, insulin 

Insulin manufacturer Eli Lilly has requested a $24 million tax break over the next 10 years as an investment into its diabetes care section.

The company itself is planning to invest $400 million in expanding its facility in Indianapolis. The expansion will create 100 new jobs and make sure 20 current jobs are retained. Michael O’Conner, the Eli Lilly Senior Director of State Government Affairs, presented this proposal to the Indianapolis City-County Council Metropolitan and Economic Development Committee this week.

This request has not been submitted without controversy. Councillor Jared Evans, from District 22, said: “We already get screwed on sales tax, we get screwed on road infrastructure funding and much more, then we have to pay for tax incentives where 60% of these large corporations to go and live in other counties.”

Eli Lilly has consistently faced scrutiny over the years for the price of its insulin. It currently charges $275 per vial, which is a $150 increase from 2011. In April, the company announced that it will limit out of pocket costs for insulin to $35 per month to offset the financial conditions created by the coronavirus.

Conor Kavanagh

Related Content

FDA approves new insulin pump and algorithm software for enhanced automated insulin delivery

The US Food and Drug Administration (FDA) has announced that it has cleared the Beta …


Eli Lilly shares positive results from phase 3 study of donanemab for early Alzheimer’s disease

Eli Lilly has announced positive results from the TRAILBLAZER-ALZ 2 phase 3 trial assessing donanemab’s …

Eli Lilly shares positive analysis from phase 3 trial for lebrikizumab for atopic dermatitis

Eli Lilly has announced new secondary analysis from its phase 3 clinical development programme for …

Latest content