Eli Lilly Continues Indianapolis Project Despite Job Cuts

INDIANAPOLIS, IN — Associated Press reports Eli Lilly and Co. says it's going ahead with a $72 million project in Indianapolis despite plans to let go of nearly 3,500 jobs worldwide. AP says the drugmaker's project will be an update to a city insulin manufacturing plant, and the company said this project will replace an existing insulin vial filling line and allow it to meet growing demand for its insulin products. The news outlet reports Lilly has seen sales decline for top sellers like the insulin Humalog, while company CEO David Ricks said diabetes treatment remains a key area.

This project is part of $850 million in planned U.S. capital projects announced in March, according to AP.

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Just last month Eli Lilly announced it would cut around 9 percent of employees, with most going through a voluntary retirement program in the U.S.

More: President Trump Leaning Toward Former Eli Lilly Exec For Health Secretary

More information: usnews.com via AP

Darron Cummings/AP