Lilly promises $850 million investment in message to White House

pharmafile | March 27, 2017 | News story | Manufacturing and Production, Sales and Marketing Eli Lilly, President trump, lilly 

Eli Lilly’s latest press release indicated that it would be spending $850 million in developing its worldwide US operations, particularly in its diabetes manufacturing sites, in Indiana, in what can be seen as a pointed message to President Trump. The president has made it no secret that he wants the pharmaceutical industry to boost manufacturing to the US, under the larger goal of creating jobs in the US.

Lilly’s message could not be clearer in the press release, the investment comes with the suggestion that the considerable figure of $850 million could increase if Trump upholds his end of the bargain. The release states: “Lilly has invested approximately $5 billion in its US facilities during the last decade and that more investments can be expected, particularly if the US adopts a more favourable tax environment.”

As can be seen from this line, it’s a case of favours for favours. Republicans had put forth a series of changes to the tax system last year, including lowering the rate of corporate tax. Lilly then is only highlighting a proposal that had already been aired but would like to see pushed through.

In particular, Lilly states that it will invest $85 million to expand its Trulicity device assembly operations in the US. Beyond this, a further $140 million is slated to go into expanding insulin cartridge production facility.

Alongside the announcement was a statement by David Ricks, Lilly CEO, reading: “Our future at Lilly is bright, as we’re on a path to launch 20 new products in a 10-year time frame. As we have for our entire 140-year history, we continue to see Indiana and the United States as attractive places to research and make the medicines that we sell around the world.”

The release also notes that Lilly has added 1,000 jobs during the period of 2012-2016, again signposting what it wants the White House to interpret from this release – that it can be a player in the wider goal to bring more jobs to the US.

Ben Hargreaves

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