Eli Lilly Funds US$350 Million To Expand Insulin Production In China
Eli Lilly and Company will invest US$350 million to expand its insulin cartridge manufacturing capacity in China.
AsianScientist (Nov. 26, 2013) – Eli Lilly and Company has announced it will invest more than US$700 million to enhance its global insulin manufacturing capacity, of which US$350 million will be invested in China.
The commitment to expand insulin production in China is the latest in a series of diabetes-related investments in this part of the world, such as the opening of the Lilly China Research and Development Center in Shanghai last year. According to the International Diabetes Federation (IDF), there are almost 100 million people in China with diabetes, with as many as three-quarters of them not having adequate control of their disease.
“The burden of diabetes knows no boundaries,” said Jacques Tapiero, president of Lilly Emerging Markets. “In particular, our ongoing investment in China will help Lilly bring medicines to the country with the largest population of people with diabetes—and which is projected to rise to more than 142 million by 2035.”
According to the IDF, diabetes is a significant and growing global problem, with high and increasing costs to society and to individuals. The IDF also noted that all types of diabetes are on the rise, with the number of people with type II diabetes increasing most dramatically.
“Insulin is a cornerstone of diabetes treatment and its use will only continue to increase given the rising number of people with diabetes around the world,” said Enrique Conterno, president of Lilly Diabetes. “Since introducing the first commercially available insulin 90 years ago, Lilly has helped address the global diabetes burden, and today’s announcement further underscores our deep commitment to diabetes care.”
In addition to committing to investments in manufacturing, the company is investing heavily in diabetes research. Lilly currently has 14 new molecular entities in clinical development, including three under regulatory review and another in Phase III, for the treatment of diabetes and related complications.
Source: Eli Lilly and Company; Photo: leafbug/Flickr/CC.
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