Eli Lilly and Company (NYSE: LLY) and Nexus Pharmaceuticals, LLC have announced a definitive agreement for Lilly to acquire a manufacturing facility from Nexus, a prominent sterile manufacturer in the pharmaceutical sector.
This acquisition, located in Pleasant Prairie, Wisconsin and approved by the FDA, will enhance Lilly’s global parenteral (injectable) product manufacturing network, catering to the growing demand for the company’s medications. It’s anticipated that production at this facility could commence by the end of 2025.
Edgardo Hernandez, Executive Vice President and President of Lilly Manufacturing, emphasized the acquisition as a testament to the company’s dedication to growth and innovation. He expressed anticipation in integrating talented Nexus colleagues into Lilly and highlighted the investment in serving patients and bolstering capabilities for future pipelines.
Usman Ahmed, President and CEO of Nexus, echoed the sentiment, expressing excitement that Lilly would continue Nexus’s mission of providing life-saving medications. He praised the dedication of Nexus employees in building a top-tier injectable manufacturing facility and anticipated the combined efforts benefiting patients globally.
The Pleasant Prairie facility, exclusive to Lilly’s manufacturing mission, does not offer contract manufacturing services, ensuring a focus on delivering medicines with paramount safety and quality standards.
Legal counsel for Lilly is provided by Weil, Gotshal & Manges LLP, with Centerview Partners LLC serving as exclusive financial advisor and Sullivan & Cromwell LLP as legal counsel to Nexus.
Nexus Pharmaceuticals, LLC: Nexus Pharmaceuticals specializes in innovative processes for manufacturing specialty and generic drugs, ensuring high-quality FDA-approved medications to meet critical medical needs.
Lilly is committed to turning scientific advancements into healing solutions, aiming to improve lives worldwide. With a legacy of pioneering discoveries spanning nearly 150 years, Lilly focuses on addressing significant health challenges, including diabetes, obesity, Alzheimer’s disease, immune system disorders, and cancer.
Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements regarding the proposed acquisition, acknowledging inherent risks and uncertainties. Actual results may differ due to various factors, and neither Lilly nor Nexus undertakes any obligation to update forward-looking statements. Further details on risks and uncertainties can be found in Lilly’s recent Form 10-K and Form 10-Q filings with the SEC.
