By Colin Kellaher

 

Eli Lilly plans to build a new $2.5 billion manufacturing site in Germany to help meet growing demand for its burgeoning diabetes and obesity franchise.

The Indianapolis drugmaker on Friday said the plant in Alzey, which will employ up to 1,000 workers and is slated to be operational beginning in 2027, will expand its injectable product and device manufacturing network.

Eli Lilly earlier this month won U.S. Food and Drug Administration approval expanding the use of its diabetes drug Mounjaro to include the treatment of obesity. The company will sell the drug under the name Zepbound for chronic weight management.

Analysts polled by FactSet expect Eli Lilly's annual global sales in both diabetes and obesity to reach $11.8 billion in 2025, up from $4.5 billion this year.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

November 17, 2023 08:45 ET (13:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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