17 November 2023, 11:31 am 1 minute
Reuters exclusively reported that Eli Lilly (LLY.N) will build its first plant in Germany in the western town of Alzey for 2.3 billion euros ($2.5 billion), the U.S. drugmaker said on Friday, as the sector scrambles to meet soaring demand for new diabetes and obesity therapies.
As the sector scrambles to meet demand for new diabetes and obesity therapies, the investment, confirmed by Lilly on Nov 17, will contribute to meeting surging demand for weight-loss drug Mounjaro from 2027. Eli Lilly and Danish rival Novo Nordisk (NOVOb.CO) are leading a race to seize an estimated $100 billion future global market for anti-obesity treatments.
Topics of Interest: DealsHealth
Type: Reuters Best
Sectors: Pharmaceuticals & HealthcareRetail & Consumer Goods
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story