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Upon completion, this acquisition will expand Lilly's growing U.S. capacity to produce the latest life-changing medicines
INDIANAPOLIS and LINCOLNSHIRE, Ill., April 22, 2024 – Eli Lilly and Company (NYSE: LLY) and Nexus Pharmaceuticals, LLC today announced a definitive agreement for Lilly to acquire a manufacturing facility from Nexus, a leading sterile manufacturer in the pharmaceutical industry.
The acquisition of this FDA-approved facility in Pleasant Prairie, Wisconsin will further expand Lilly's global parenteral (injectable) product manufacturing network and support increased demand for the company's medicines. Lilly estimates that production at this facility could begin at the end of 2025.
“The acquisition of this state-of-the-art facility underscores our unwavering commitment to growth and innovation, and we look forward to welcoming talented new Nexus colleagues to Lilly from the Pleasant Prairie facility,” said Edgardo Hernandez, executive vice president and president, Lilly manufacturing. “We are investing boldly to serve our patients, to meet product demand and to build capabilities for our robust pipeline of the future.”
Usman Ahmed, president and chief executive officer of Nexus, added: “We are excited Lilly is continuing our family’s mission of providing lifesaving medications to those who need them most. This milestone is a testament to the dedication of our Nexus employees in building a best-in-class injectable manufacturing facility. The combination of our teams and infrastructure with Lilly’s global platform will benefit patients all over the world.”
The Pleasant Prairie facility does not provide contract manufacturing services, allowing the facility to be solely dedicated to Lilly’s manufacturing mission to deliver medicines to patients with safety first and quality always.
Weil, Gotshal & Manges LLP is acting as legal advisor to Lilly. Centerview Partners LLC is acting as exclusive financial advisor, and Sullivan & Cromwell LLP as legal counsel to Nexus.
About Nexus Pharmaceuticals, LLC
Nexus Pharmaceuticals, LLC, a US-based healthcare company, specializes in innovative processes to make difficult-to-manufacture specialty and generic drugs that are easier to use, less labor intensive, and more streamlined in practice. Nexus ensures that its high-quality FDA-approved drugs fulfill a critical unmet medical need and deliver dependable life-saving treatment options when and where they’re needed most. To learn more, visit www.nexuspharma.net or follow us on Facebook, Instagram and LinkedIn.
About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 51 million people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram and LinkedIn. C-LLY
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding Lilly’s proposed acquisition of Nexus’ Pleasant Prairie manufacturing facility and the anticipated occurrence, manner and timing. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements reflect current beliefs and expectations; however, these statements involve inherent risks and uncertainties, including with respect to consummating the proposed acquisition, risks that the proposed acquisition disrupts current plans and operations or adversely affects employee retention, potentially diverting management’s attention from Nexus’ ongoing business operations, changes in Nexus’ business during the period between announcement and closing of the proposed acquisition, and any legal proceedings that may be instituted related to the proposed acquisition. Actual results could differ materially due to various factors, risks and uncertainties. Among other things, there can be no guarantee that the proposed acquisition will be completed in an anticipated timeframe or at all, that the conditions required to complete the proposed acquisition will be met, that any event, change or other circumstance that could give rise to the termination of the definitive agreement for the proposed acquisition will not occur, that Lilly will realize the expected benefits of the proposed acquisition, that Lilly’s financial results will be consistent with its expected 2024 guidance or that Lilly can reliably predict the impact of the proposed acquisition on its financial results or financial guidance. For further discussion of these and other risks and uncertainties, see Lilly’s most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission (the “SEC”). Except as required by law, neither Lilly nor Nexus undertakes any duty to update forward-looking statements to reflect events after the date of this press release.
