Lilly Announces Significant Global Insulin Manufacturing Capacity Investments in Response to Growing Diabetes Epidemic
Nearly half of the
According to the
"Insulin is a cornerstone of diabetes treatment and its use will only continue to increase given the rising number of people with diabetes around the world," said
In addition to committing to investments in manufacturing, the company is investing heavily in diabetes research. Lilly currently has 14 new molecular entities in clinical development, including three under regulatory review and another in Phase III, for the treatment of diabetes and related complications.
The new manufacturing investments will support both existing and future insulin-based medicines and are as follows:
France— $120 millionto enhance insulin cartridge manufacturing capacity Indianapolisand Puerto Rico— $245 millionto expand insulin-active-ingredient and delivery device manufacturing capacity China— $350 millionto expand insulin cartridge manufacturing capacity
The commitment to expand insulin production in
"The burden of diabetes knows no boundaries," said
Prior to today's announcement, Lilly recently communicated insulin-related commitments in
New Report Quantifies the Global Diabetes Burden
Today, as part of World Diabetes Day, the IDF released the 6th edition of its Diabetes Atlas, which illustrates the escalating impact of diabetes around the world. The numbers are staggering: 382 million adults around the world have diabetes, and this number is projected to rise to 592 million over the next 25 years. In 2013, 5 million people died from complications of diabetes. The economic cost is equally alarming:
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in
This press release contains forward-looking statements about the company's proposed insulin manufacturing expansion projects. It reflects Lilly's current beliefs; however, the process of planning and implementing/expanding a pharmaceutical manufacturing process carries with it substantial risks and uncertainties. There is no guarantee that Lilly will be able to complete the proposed projects, that they will function as expected, or that Lilly will realize the expected benefits of the proposed expansion. For further discussion of these and other risks and uncertainties, please see Lilly's latest Forms 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. The companies undertake no duty to update forward-looking statements.
Image with caption: "
PDF with caption "As a leader in diabetes, Lilly is addressing the challenges ahead." available at: http://origin-qps.onstreammedia.com/origin/multivu_archive/ENR/FX-MM16768-20131114-2.pdf
News Provided by Acquire Media