INDIANAPOLIS (AP) — Eli Lilly and Co. says it is going ahead with a $72 million project updating an insulin manufacturing facility in Indianapolis even as the drugmaker plans to cut about 3,500 jobs from its global workforce.
The Indianapolis-based company said Monday the project will replace an existing insulin vial filling line and allow it to meet growing demand for its insulin products.
Lilly says the work is among $850 million in planned U.S. capital projects that were announced in March.
Lilly has seen sales slump for top sellers like the insulin Humalog, but company CEO David Ricks said diabetes treatment remains a key area.
Most Read Business Stories
- Trump says he took the Fifth in New York civil investigation
- Boeing delivers its first 787 Dreamliner in more than a year
- Donald Trump 'took the Fifth.' What does it actually mean?
- Seattle ex-Twitter employee convicted of spying for Saudi royals
- Elon Musk’s antics turn owners and would-be buyers against Tesla
The company announced in September it would cut nearly 9 percent of its workforce, mostly through a voluntary retirement program in the United States.