Lilly sells Tippecanoe API site to Evonik
US drugmaker Eli Lilly will sell its Tippecanoe laboratories API manufacturing unit to Germany’s Evonik Industries.
The site in Lafayette, Indiana has been earmarked for sale since summer last year after Lilly unveiled plans to reduce capacity and buy in more drug ingredients and intermediates.
While financial terms of the deal are not being disclosed Lilly said that Evonik will use the facility to make certain active pharmaceutical ingredients for its human and animal health portfolios.
Lilly confirmed that the 700 members of staff at the site will be offered jobs by Evonik.
CEO John Lechleiter said that the sale supports "Lilly's goal to reduce our workforce and cost structure over time,” adding that “we are taking the steps necessary to ensure our long-term success by becoming a leaner, more focused, more customer-oriented."
