02:42 PM EDT, 10/02/2024 (MT Newswires) -- Eli Lilly ( LLY ) announced a $4.5 billion investment on Wednesday to open a new manufacturing and development center that will support treatments from research stages through their entry into clinical trials.

The Indiana facility is expected to open in late 2027 and combine research, manufacturing, and innovative new production methods.

The goal of the facility, which will be called Medicine Foundry, is to scale supply for clinical studies to support Eli Lilly's ( LLY ) growing pipeline, the company said in a statement.

"As we accelerate our work to discover new medicines for the toughest diseases, we're continuing to invest in state-of-the-art infrastructure to support our growing pipeline," said Chief Executive David Ricks.

The complex will strengthen the pharmaceutical company's process development and manufacturing capabilities to speed delivery of next-generation medicines, he said. It is also expected to reduce costs and environmental impact, according to Lilly.

Medicine Foundry will be able to produce various molecular therapies, including drug substances for small molecules, biologics and nucleic acid therapies. New technologies developed there will be transferred to other Lilly manufacturing sites for full-scale production.

The center will employ 400 full-time high-skilled workers once operational, the company said.

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