03:32 PM EDT, 05/24/2024 (MT Newswires) -- Eli Lilly ( LLY ) on Friday announced an additional $5.3 billion investment in its manufacturing site in Lebanon, Indiana, to help meet the growing demand for its diabetes treatment Mounjaro and weight-loss drug Zepbound.

The latest commitment raises the drugmaker's investment in the site to $9 billion from $3.7 billion, according to a statement. Lilly broke ground at the project in 2023.

"Today's announcement tops the largest manufacturing investment in our company's history and, we believe, represents the single largest investment in synthetic medicine (active pharmaceutical ingredients) manufacturing in US history," Chief Executive David Ricks said. "This multi-site campus will make our latest medicines, including Zepbound and Mounjaro, support pipeline growth and leverage the latest technology and automation for maximum efficiency, safety and quality control."

Last month, Lilly increased its full-year financial guidance after delivering higher first-quarter results on an annual basis, boosted by Zepbound and Mounjaro sales.

The company said Friday it expects to start making medicines in Lebanon toward the end of 2026, with operations scaling up through 2028.

As part of its latest investment, Lilly expects to add 200 full-time jobs, leading to a projected 900 full-time employees once the facility is fully operational.

"Lilly continues to play a transformational role in shaping Indiana's opportunity economy," Gov. Eric Holcomb said. "I couldn't be more proud about their pole position leadership in developing the LEAP Research and Innovation District in Lebanon."

The company said it has committed more than $18 billion since 2020 to build, upgrade and buy facilities in the US and Europe.

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