Whatever you think of Donald Trump’s tariff policies, one fact stands out: companies are looking to invest more in the United States. They want to avoid the negative impacts of tariffs on their business.
Pharmaceutical giant expects the move will create 3,000 high-skilled jobs and provide work for approximately 10,000 construction workers.
It's hard to argue with the kinds of results Eli Lilly (NYSE: LLY) has produced over the past five years. The company has been one of the best-performing pharmaceutical giants, with its shares leaving the broader market in the dust.
Eli Lilly, the maker of blockbuster weight loss and diabetes drugs Zepbound and Mounjaro, said it will invest an additional $27 billion to build four new manufacturing plants in the United States, shoring up domestic manufacturing as President Donald Trump threatens new tariffs on pharmaceuticals.
Eli Lilly said it plans to build three new plants in the United States to make the key ingredients used in pharmaceuticals, part of a doubling of its investment in manufacturing.
Eli Lilly and Co. is in negotiations with several states and plans to announce the locations of four new manufacturing plants later this year.
Eli Lilly announced plans for four new pharmaceutical manufacturing sites to produce domestic medicine production in the United States and make the nation the world's leader in pharmaceutical production.