Eli Lilly and Co. (NASDAQ:LLY) plans to invest over $1 billion in India to strengthen its manufacturing network, according to Reuters.
The move aims to tap into the country's skilled workforce and support Lilly's global expansion.
The collaborations are designed to increase the availability of key treatments for obesity, diabetes, Alzheimer's disease, cancer, and autoimmune conditions.
Currently, Lilly does not operate its own manufacturing facility in India. Instead, it plans to collaborate contractually with local firms that produce complex drugs, vials, and injectables.
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In addition to partnerships, Lilly is establishing a manufacturing and quality facility in Hyderabad, in southern India. The new hub will oversee the firm's contract manufacturing network nationwide and offer advanced technical capabilities.
Reuters reported that recruitment for the Hyderabad site will start immediately. Lilly intends to hire engineers, chemists, analytical scientists, quality control and assurance experts, and managerial staff.
In August, Eli Lilly expanded its presence in the Indian market by launching the Mounjaro Kwikpen, a once-weekly, easy-to-use injector, at a starting price of 14,000 rupees (approximately $160) for its 2.5 mg dose.
The device is available in six dose strengths ranging from 2.5 to 15 mg, with monthly prices rising to 27,500 rupees for the highest doses.
The launch follows approval from India's drug regulator in June, just days after Novo Nordisk introduced Wegovy in India in multiple dose strengths using a similar pen device.
Wegovy's monthly prices in India range from 17,345 rupees for its smallest doses to over 26,000 rupees for its highest strengths.
Price Action: LLY stock is up 1.32% at $850.97 at the last check on Monday.
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