Lilly to increase insulin manufacturing capabilities worldwide

Lilly has outlined plans to expand its worldwide insulin manufacturing capabilities in order to address the growing global demand for diabetes medication.

The company will spend more than $700 million (434.47 million pounds) to enhance its insulin manufacturing capacity in Puerto Rico, France and China, as well as at its global headquarters in Indianapolis.

Insulin cartridge production will be stepped up in France and China, while the US and Puerto Rico investments will be used to accelerate the creation of insulin active ingredients and delivery devices.

This comes at a time when the spread of all types of diabetes is on the rise, with the number of people with type 2 diabetes increasing most dramatically.

Enrique Conterno, senior vice-president and president for Lilly Diabetes, said: "Since introducing the first commercially available insulin 90 years ago, Lilly has helped address the global diabetes burden and today's announcement further underscores our deep commitment to diabetes care."

Last month, the company announced its financial results for the third quarter of 2013, reporting a three-month revenue total of $5.77 billion – up by six percent year on year.