Eli Lilly needs to extend manufacturing of medication for weight reduction, diabetes and Alzheimer's

A sign with the company logo stands in front of Eli Lilly's headquarters in Indianapolis, Indiana on March 17, 2024.

Scott Olson |

Eli Lilly announced on Thursday that the company would invest $1.8 billion to boost production of its newly approved Alzheimer's drug, as well as hugely popular weight loss and diabetes treatments and other medicines in Ireland.

The pharmaceutical giant is investing $1 billion to expand an existing site in Limerick, Ireland, to increase production of certain active ingredients, including those in its Alzheimer's drug Kisunla, which slows the progression of the disease in the early stages and was approved in the United States in July.

Eli Lilly also announced an $800 million facility expansion in Kinsale, Ireland. That site began manufacturing drugs in 2023 to meet demand for the company's diabetes and obesity treatments, a press release said.

Demand for Eli Lilly's obesity drug Zepbound and diabetes injection Mounjaro has outstripped supply over the past year, forcing the company to invest heavily in increasing production. Eli Lilly says it has invested more than $20 billion since 2020 to buy, build and expand manufacturing facilities in the U.S. and Europe.

“These investments will boost production of some of our medicines and help millions of people with diabetes, obesity and Alzheimer's disease live as healthy as possible,” said Edgardo Hernandez, president of manufacturing operations at Eli Lilly. “We won't stop here – these state-of-the-art facilities will also be equipped to support our promising pipeline molecules of the future.”

Eli Lilly’s biggest competitor in the weight loss drug space, Novo Nordiskhas also invested billions in increasing production of its own drugs.