Lilly starts construction of $5 billion Virginia cancer-medicine plant

Eli Lilly ($LLY) broke ground on its previously announced $5 billion manufacturing facility in Goochland County, near Richmond, Virginia. The site is intended to produce antibody-drug conjugates and other advanced medicines, and would be Lilly's first facility integrating active-ingredient production with finished-medicine manufacturing.

The project is expected to support approximately 650 permanent jobs and 1,800 construction positions. Lilly also committed $40 million to a workforce-development center intended to open in 2028. The groundbreaking marks progress on an existing capital commitment within the company's broader U.S. manufacturing expansion; it should not be counted as an additional, newly announced $5 billion investment. The plant is still under development, and the announcement does not indicate that commercial production has begun.

Sources:

• PR Newswire