Lilly in Full Bloom with $531 Million in Biotech Construction Underway in Indianapolis

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Eli Lilly and Company (NYSE: LLY) (Indianapolis, Indiana) (Plant 1504981) continues its ambitious expansion plan with the groundbreaking this week for their $200 million research and development laboratory building (PEC 11002290). At nearly 480,000 square feet, the 4-story building will more than double the size of Lilly's current biotechnology complex located at the Lilly Technology Center (LTC) on Kentucky Avenue Indianapolis, Indiana.

The company hopes to eventually develop a third of the company's new drugs at the expanded complex. The lab is part of over $530 million being spent at the LTC, with the first phase reported by Industrialinfo.com in June of 2002 (PEC 11002097). Expanded in scope and size since first announced, $331 million is being spent for a new three-story pilot plant that is expected to be complete in 2006. The pilot plant will contain more than 100 prefabricated factory blocks constructed in Sweden and shipped to the site starting next month.

The construction management contract will be awarded for the project next month, which is expected to be complete in 2007. Lilly estimates more than 700 people will be employed at the expanded biotech campus, some will be new hires and others will be transferred from existing operations.

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