01:18 PM EDT, 09/16/2025 (MT Newswires) -- Eli Lilly ( LLY ) said Tuesday it intends to invest $5 billion to construct a manufacturing facility in Virginia's Goochland County as part of the drugmaker's commitment to boost its medicine production in the US.

The Virginia plant is the first of the four manufacturing sites that Lilly plans to build.

In February, the company outlined a plan to invest at least $27 billion to build such sites, in addition to $23 billion in commitments from 2020 through 2024.

Expected to be completed within the next five years, the Virginia plant will boost Lilly's production of antibody-drug conjugates, according to a statement.

"By expanding our domestic capacity, we're building a secure, resilient supply chain that delivers for patients today and supports the breakthrough medicines of tomorrow," Chief Executive David Ricks said.

The stock was up 2.5% intraday Tuesday.

The Virginia plant will be the company's first fully integrated facility producing both active pharmaceutical ingredients and drug products for its emerging bioconjugate platform and monoclonal antibody portfolio, the statement said.

Lilly expects the Virginia facility to create more then 650 high-paying jobs, while the project is anticipated to bring 1,800 construction jobs to the region.

The company said the three other facilities will likely be announced later this year, with all four new sites expected to begin production within five years.

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