Eli Lilly Exec Says Continue To Make Progress On Co's Plans To Increase Manufacturing Capacity; Wisconsin Facility Acquired From Nexus Pharma Has Been FDA Approved; Targeting To Initiate Production At 2025-End; Demand For Tirzepatide Continues To Outstrip Even With Increased Supply
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Eli Lilly is advancing its plans to boost manufacturing capacity, including FDA approval for a Wisconsin facility acquired from Nexus Pharma. The company aims to start production by the end of 2025, as demand for Tirzepatide still exceeds supply despite increased production.
April 30, 2024 | 2:46 pm
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Eli Lilly's strategic move to increase manufacturing capacity, including the FDA-approved Wisconsin facility, is poised to meet the soaring demand for Tirzepatide, indicating a positive outlook for future revenue growth.
The FDA approval of the Wisconsin facility acquired from Nexus Pharma and the targeted production start by end of 2025 are significant steps for Eli Lilly to address the high demand for Tirzepatide. This expansion in manufacturing capacity is crucial for meeting current and future demand, likely leading to increased revenues and a positive impact on the stock price in the short term.
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