The business, often known as Lilly, declared last year that it would be investing a sum comparable to this to create a manufacturing plant in Raheen.

300 jobs are anticipated to be created by this plant, which is devoted to producing biologic active components for the company's line of Alzheimer's disease therapies.

With Lilly's most recent investment, the business will be able to expand its manufacturing capacity at the Limerick plant—which it claims is the most ambitious expansion in its history—and boost employment at the Raheen location to 450 when it begins production in the summer.

The Limerick location is a fully integrated digital factory, allowing the manufacturing and distribution of quality pharmaceuticals.

Together with having lofty environmental goals, it will be constructed with 35% less energy, 40% less water, and 15% less trash than conventional biopharmaceutical manufacturing methods.

"Alzheimer's disease is a devastating diagnosis for both the patient and their families, and places a huge burden on society," stated Lilly Executive Vice President Anne E. White.

"The treatment planned for the Limerick plant offers the potential to be able to slow the progression of early symptomatic Alzheimer's disease and make life better for millions of people around the world."

In order to guarantee the secure and consistent supply of Lilly's diabetes and obesity drugs, the firm also formally inaugurated a significant extension at its Kinsale facility, signifying an investment of €726 million in a digitally first integrated manufacturing platform for producing complex peptides.

It employs 2,000 people at its two Cork locations and has a worldwide business plant at Little Island.

CEO of Lilly David Ricks stated that the company was pleased with the talent pool in Limerick as well as the area's capacity to draw workers from all around Europe to the Limerick factory.

Research and development professionals, engineers, IT specialists, and manufacturing and quality control colleagues will all be employed in these positions.

According to Peter Burke, Minister of Enterprise, Trade, and Employment, the funding will help address ailments that impact millions of people worldwide.

"The company had made a huge commitment to Ireland for almost half a century and these announcements further solidify their confidence in Ireland as a global leader in the bio-pharma sector," he continued.