Eli Lilly and Co. and Novo Nordisk have been locked in a fierce battle to control the obesity market, which is projected to reach $100 billion by the end of the decade.
The Food and Drug Administration on Tuesday posted more than 100 letters to various drug and online prescribing companies, including Hims & Hers, which has built a multibillion-dollar business centered on lower-cost versions of blockbuster obesity injections.
Indianapolis-based Lilly said the new plant would create more than 650 jobs in Virginia for engineers, scientists, operations personnel and lab technicians, as well as 1,800 construction jobs.
The restructuring, which would eliminate 11% of the company’s workforce, aimed to reduce organizational complexity and speed up decision-making as the company faces a more competitive market for obesity drugs.
“The governor has been very clear: We’re just not in the land development business, and it’s not a core competency,” Commerce Secretary David Adams told IBJ.
Eli Lilly and Co. announced this month it would raise the weight-loss treatment’s price by as much as 170%, presenting pharmacies with a dilemma about how much they would pass on to patients.
Growing Indiana’s economy should not be framed as a choice between supporting existing businesses and attracting strategically important newcomers. Both are essential.
Documents dated Aug. 6 also include multiple renderings of the campus, which would include 12 data center buildings, three ancillary buildings and more than 400 parking spots.
Superluminal will use its AI-driven platform to discover and optimize small-molecule treatments for G protein-coupled receptors, or GPCRs, which have emerged as a key to conditions such as diabetes and obesity.
Trump sent letters to 17 of the world’s largest drugmakers earlier this month, including Lilly and Novo Nordisk A/S, insisting they lower what they charge Medicaid in the U.S. for existing drugs.
