Lilly enhances insulin sites with $700m investment
Eli Lilly and Company has invested over US $700 million to enhance its global insulin manufacturing facilities in China, France, Lilly headquarters in Indianapolis, USA, and Puerto Rico.
To date, Lilly has invested more than $1 billion in planned investments in response to the growing diabetes epidemic and increasing demand for insulin around the world. However, the company is not only committing to investments in manufacturing, but also heavily invests 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.
“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. Since introducing the first commercially available insulin 90 years ago, Lilly has helped address the global diabetes burden, and today’s announcement further underscores our deep commitment to diabetes care.”
Enrique Conterno, senior vice president and president, Lilly Diabetes.
According to a new report by the International Diabetes Federation (IDF), a staggering 382 million adults around the world have diabetes. This number is projected to rise to 592 million over the next 25 years. In China alone, there are almost 100 million people with diabetes, with as many as three-quarters of them not having adequate control of their disease.
“The burden of diabetes knows no boundaries. In particular, our ongoing investment in China will help Lilly bring medicines to the country with the largest population of people with diabetes — and which is projected to rise to more than 142 million by 2035.”
Jacques Tapiero, senior vice president and president, Lilly Emerging Markets.
The cost diabetes has on the economy is also alarming: $548 billion was spent worldwide in 2013, representing 11 % of the total healthcare expenditures. This number is projected to increase 14 % by 2035.
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