Upon completion, this acquisition will expand Lilly's growing U.S. capacity to produce the latest life-changing medicines
Eli Lilly and Company's Corporate Center in Indianapolis, Indiana. (Credit: Momoneymoproblemz/Wikimedia Commons)
Eli Lilly and Company (NYSE: LLY) and Nexus Pharmaceuticals, LLC announced a definitive agreement for Lilly to acquire a manufacturing facility from Nexus, a leading sterile manufacturer in the pharmaceutical industry.
The acquisition of this FDA-approved facility in Pleasant Prairie, Wisconsin will further expand Lilly’s global parenteral (injectable) product manufacturing network and support increased demand for the company’s medicines. Lilly estimates that production at this facility could begin at the end of 2025.
“The acquisition of this state-of-the-art facility underscores our unwavering commitment to growth and innovation, and we look forward to welcoming talented new Nexus colleagues to Lilly from the Pleasant Prairie facility,” said Edgardo Hernandez, executive vice president and president, Lilly manufacturing. “We are investing boldly to serve our patients, to meet product demand and to build capabilities for our robust pipeline of the future.”
Usman Ahmed, president and chief executive officer of Nexus, added: “We are excited Lilly is continuing our family’s mission of providing lifesaving medications to those who need them most. This milestone is a testament to the dedication of our Nexus employees in building a best-in-class injectable manufacturing facility. The combination of our teams and infrastructure with Lilly’s global platform will benefit patients all over the world.”
The Pleasant Prairie facility does not provide contract manufacturing services, allowing the facility to be solely dedicated to Lilly’s manufacturing mission to deliver medicines to patients with safety first and quality always.
Weil, Gotshal & Manges LLP is acting as legal advisor to Lilly. Centerview Partners LLC is acting as exclusive financial advisor, and Sullivan & Cromwell LLP as legal counsel to Nexus.
Source: Company Press Release