FDI of the Month January 2022: Eli Lilly and Company invests €400 million in Limerick

FDI of the Month, IDA Ireland | Wed 2 Feb | Author – Business & Finance

Eli Lilly and Company, an American pharmaceutical company, is headquartered in Indiana and was founded in 1876. It has grown to establish offices in 18 countries including Ireland, and sells its products in 125 countries. 

Eli Lilly has been operating in County Cork for over 40 years. It has a manufacturing campus in Kinsale, as well as a site at Little Island, where its Cork Global Business Solutions centre has been based for a decade. Lilly was named the Cork Chamber of Commerce “Cork Company of the Year” in May 2021, with a winning joint submission by the two sites.

In Ireland alone, Eli Lilly employs almost 2,000 people, with an additional 500 outsourced and contract staff involved in the provision of day-to-day support services for the company’s operations. Eli Lilly Ireland’s current areas of focus are diabetes, immunology and oncology.

Eli Lilly plans to invest more than €400m in a new manufacturing facility in Limerick that will create more than 300 full-time jobs. The new Limerick facility will support and expand Eli Lilly’s global manufacturing network for active ingredients used in medicines to meet increased demand for its products, including its Alzheimer’s portfolio. 

Lilly produces crucial healthcare products which are making a huge difference to the lives of patients

There will also be roles for around 500 people during the construction of the new facility. The announcement was described as “fantastic news for Limerick and indeed the entire region” by Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar. “Lilly produces crucial healthcare products which are making a huge difference to the lives of patients around the world fighting some of the world’s most serious illnesses,” he continued.

Senior vice president and president, Lilly Manufacturing Operations Edgardo Hernandez said: “Over the past 40 years, we have continued to invest in Ireland in part because of supportive government policies that value life science innovation. This new Lilly campus in Limerick will allow us to expand our capacity to make innovative new medicines that can help treat some of the world’s most serious illnesses. This facility will use the latest technology to support advancements in science, productivity and sustainability, further establishing Lilly as a global manufacturing leader.”

The investment project is subject to planning approval and the company will submit a planning application with Limerick City and County Council in the coming weeks. The proposed site for the plant is located at the IDA’s Raheen Business and Technology Park.