Lilly invests $560M in biotech expansion

US drug major Eli Lilly says it has completed the first phase of a $560.0 million expansion to its biotechnology complex in Indianapolis. The investment, it notes, is part of a $1.0 billion effort to strengthen and build the company's biotechnology drug R&D capabilities.

During a ceremony at its Indianapolis site, company officials dedicated what they described as "the crown jewel" of the first phase of construction - a state-of-the-art bioproducts pilot manufacturing plant that will help the company bring advanced biotech medicines to patients through more efficient, productive and dependable manufacturing processes. Lilly also announced the opening of a research support facility, into which 700 scientists, engineers and support staff will relocate.

Lilly initially revealed the plans for this biotechnology complex in 2002. In 2004, they were "expanded to nearly twice their original size to better meet the company's pipeline of biotechnology drugs," the firm said, pointing out that around 30% of its total portfolio is in biotechnology, representing about $3.6 billion of its 2005 sales.