A doubling to $2 billion (€1.8 billion) investment at its proposed facility at Raheen is a massive endorsement by pharmaceutical giant Eli Lilly in Limerick.
The announcement will add a further 150 jobs to the 300 proposed when the initial $1 billion investment in Limerick was announced two years ago.
The doubling of Lilly’s investment in the new plant points to its confidence in its portfolio of Alzheimer’s drugs.
Manufacturing the active ingredient for those medicines will be the focus of the Limerick plant when it opens. That is expected to be in 2026.
“Alzheimer’s disease is a devastating diagnosis for both the patient and for their loved ones, along with having a huge burden on society,” said Anne White, executive vice-president and president of Lilly Neuroscience.
“The treatments we plan to make here in Limerick offer the potential to be able to slow the progression of early symptomatic Alzheimer’s disease and make life better for millions of people around the world.”
Lilly is rapidly expanding capacity as it looks to leverage a growing portfolio of drugs in fields such as Alzheimer’s, investing billions of dollars over the past four years to expand and acquire manufacturing plants.
Minister for Enterprise Trade and Employment Peter Burke said: “This state-of-the-art facility will contribute to the treatment of a disease affecting millions of people across the world. It will also create hundreds of new jobs, directly and indirectly, adding to the thousands already employed in Ireland by Lilly.”
He said the announcement signalled the US drug giant’s confidence in Ireland as a global leader in the biopharma sector.
“The combination of local expertise, world-class educational institutions, and a welcoming and thriving business environment has positioned Limerick as a global biopharma hub,” commented Mayor John Moran.