LLY Stock Rides Trump Spotlight: President Touts Eli Lilly’s $3.5B Factory As Weight-Loss Pill Plans Go Global
Article excerpt
Highlighted: the sentence this signal was extracted from
Shares of Eli Lilly and Company (LLY) drew attention late Tuesday after U.S. President Donald Trump put the drugmaker's $3.5 billion Pennsylvania factory in the spotlight, just as its obesity-drug ambitions expand overseas. LLY stock rose 0.4% on Tuesday to end at $1,107.08, although it was down about 0.1% in overnight trading. Speaking at a Mack Trucks facility in Pennsylvania, Trump pointed to Lilly's Lehigh Valley site as evidence of manufacturing momentum in the state. He used the Pennsylvania stop to tout his economic agenda, saying the state has added more than 32,000 jobs and 2,600 manufacturing jobs in recent months. Trump also added that the number would rise "as the factories start to open," according to a Fox Business report. "Eli Lilly has just announced - great company, by the way, drug company - a $3.5 billion investment in a brand-new, state-of-the-art manufacturing facility right down the road that's going to create over a thousand jobs," Trump said. Lilly said in January that it would invest more than $3.5 billion in a new injectable medicine and device manufacturing facility in Fogelsville, Pennsylvania. The site will produce next-gen weight-loss medicines, including Retatrutide, Lilly's experimental triple-hormone obesity drug. The company expects the project to create 850 high-value jobs and about...
Keep reading with a free account
The rest of this article, and every signal for Eli Lilly, is in your free account.
