The American pharmaceutical company Eli Lilly announced plans November 17 to construct a new $2.5 billion manufacturing facility in Alzey, Germany. This comes just one day after sources told Reuters that Eli Lilly was planning to build the facility for $2.17 billion.

The new venue will be used to produce injectable products as well as a device manufacturing network. Eli Lilly said that the plant will be able to support increased demand for the company’s products, including diabetes drugs that could potentially be used to treat obesity.

The company also announced it would be investing up to $100 million in Germany’s early-stage life sciences market. The investments will focus on life sciences and biotech venture capital funds.

"Every investment into our manufacturing capacity around the world is a renewed commitment to patients today – and to those who may need our medicines tomorrow," said Edgardo Hernandez, the executive vice president and president of Eli Lilly’s manufacturing operations. "This state-of-the-art parenteral site with the latest technology will enable us to continue to deliver medicines with safety first and quality always around the world."

The new site is set to begin manufacturing in 2027. Following the factory opening, Eli Lilly will operate six manufacturing sites in Europe.

Eli Lilly said that the factory will create up to 1,000 new jobs with an estimated 1,900 additional jobs created during the construction of the facility which is set to begin in 2024.