Tax policy key to expanding U.S. drug manufacturing, says Lilly’s Ricks

Lilly’s newly announced $27 billion investment in U.S. pharmaceutical manufacturing was made possible by tax cuts enacted in President Donald Trump’s first term, Eli Lilly CEO David Ricks said Wednesday. At a Washington press conference unveiling the investment — the largest pharmaceutical expansion in U. S. history — Ricks called for the cuts to be extended and expressed the hope that medicines will be exempted from planned tariffs.

Two of four planned  Eli Lilly and Co. (NYSE:LLY) facilities will use synthetic chemistry to manufacture APIs for small molecule drugs and one will make APIs for biologic products. ...