Eli Lilly Acquires New Injectable Medicine Manufacturing Facility From Nexus Pharmaceuticals; Lilly Estimates That Production At Injectable Medicine Manufacturing Facility Could Begin At The End Of 2025; No Financial Terms Disclosed
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Eli Lilly (LLY) has announced the acquisition of a new injectable medicine manufacturing facility from Nexus Pharmaceuticals, aiming to expand its U.S. production capacity. The FDA-approved facility in Pleasant Prairie, Wisconsin, will enhance Lilly's global parenteral product manufacturing network to meet growing demand for its medicines, with production expected to start by the end of 2025. The acquisition underscores Lilly's commitment to growth, innovation, and meeting product demand. Financial terms of the deal were not disclosed.
April 22, 2024 | 2:06 pm
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Eli Lilly's acquisition of Nexus Pharmaceuticals' injectable medicine manufacturing facility in Wisconsin is set to expand its U.S. production capacity, supporting increased demand for its medicines.
The acquisition of the FDA-approved facility is a strategic move for Eli Lilly, aiming to enhance its manufacturing capabilities and meet the growing demand for its injectable medicines. This expansion is likely to positively impact investor sentiment and the company's long-term growth prospects, given the emphasis on increasing production capacity and the facility's dedication to Lilly's manufacturing mission. The positive outlook is based on the strategic nature of the acquisition and its alignment with Lilly's growth and innovation goals.
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