Eli Lilly and Company (NYSE:LLY) is one of the most profitable blue chip stocks to invest in now. Reuters reported on March 11 that Eli Lilly and Company (NYSE:LLY) plans to invest $3 billion in China over the next decade, helping develop production capacity for its experimental type-2 diabetes and obesity treatment orforglipron. In a statement delivered on WeChat, the company stated that it submitted a marketing application for orforglipron to China’s drug regulator at the end of 2025. It also plans to establish a localised manufacturing and supply system for oral solid dosage forms, according to the statement.
Reuters provided additional context, stating that Eli Lilly and Company (NYSE:LLY) is the latest Western healthcare firm to announce additional manufacturing investment plans in China, following others, such as Haleon, earlier this year. However, not all drugmakers are following this path, as Bristol Myers Squibb announced on September the signing of an agreement to sell its 60% ownership stake in a pharmaceutical joint venture in China, with a manufacturing facility in Shanghai part of the venture.
Eli Lilly and Company (NYSE:LLY) develops, manufactures, discovers, and sells pharmaceutical products. These products span oncology, diabetes, immunology, neuroscience, and other therapies.
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