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The new plant would be Eli Lilly’s first primary production in Germany.
Citing sources familiar with the matter, Reuters reported that it would manufacture diabetes drugs and create more than 1,000 jobs, adding an expected increase in the number of subcontractors and regional suppliers.
“This is a four-digit number of new hires,” one source said.
Eli Lilly declined to comment on where the new factory is located, but a series of press meetings are planned in the town of Alzey, 71 km southwest of Frankfurt. The region in which Alzey is located is known for its wine industry, the largest of the thirteen designated wine regions in Germany.
Foreign direct investment (FDI) figures are on a downward trend in Germany, with inflows set to reach $11. 05 billion in 2022, down from a recent peak of $72. 02 billion in 2018, according to UNCTAD’s World Investment Report 2023.
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Several German cities, in addition to Berlin, Munich and Düsseldorf, continue to be attractive FDI destinations for life sciences investors to bring source chains closer to local markets.
In the pharmaceutical and healthcare sector, other corporations have also expressed interest in making an investment in the country. In March, Swiss company La Roche announced plans to build a $633. 8 million diagnostic products production facility at its current Penzberg plant. The new assignment will expand the existing campus by 14 hectares and is expected to be operational until 2027.
Eli Lilly is headquartered in Indianapolis, USA, and has more than 41,000 employees worldwide.
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